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Growth of Solar Power Carries On
Financial Help Is Available for More Installations

Growth of Solar Power Carries On

Placing a very high value on scientific evolutions in U.S. economic prosperity, the Energy Department funds "cutting-edge research and the deployment of innovative clean energy technologies."

In a statement released by the Solar Energy Industries Association and Wood Mackenzie, an energy research firm, solar installations in the U.S. have surpassed the 2 million milestone, producing enough power for more than 12 million homes.

As reported by Reuters, installations across this country are expected to reach 4 million by 2023. In the joint statement, the CEO of SEIA, Abigail Ross-Harper predicted that the upcoming decade will see solar reach the top of the ladder in new energy generation.

Over the past decade, just the Loans Program Office at the Energy Department itself has closed more than $30 billion in deals to help deploy large-scale energy infrastructure projects in the U.S. across a variety of energy sectors including solar. And it says it has more than $40 billion in loan and loan guarantees currently available.

With their Renewable Energy and Efficient Energy Loan Guarantees, the Loans Program Office "has vast experience financing large-scale renewable energy and efficient energy projects, including photovoltaic solar, onshore wind, concentrating solar power, and geothermal. A number of new renewable and efficient energy technologies are currently poised to reach commercial scale. With up to $4.5 billion in remaining lending authority under this solicitation, LPO is ready to support innovative energy projects that are catalytic, replicable, and market-ready."

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December 12, 2019, 8:20 pm PDT

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