We must improve and preserve the integrity of the DOE Loan Guarantee Program rather than hinder our nation’s ability to develop innovative energy projects.
Washington, DC (PRWEB) August 01, 2012
Today, the U.S. House Committee on Energy and Commerce approved H.R. 6213, the No More Solyndras Act, by a vote of 29-19. Rhone Resch, President and CEO of the Solar Energy Industries Association® (SEIA®), issued the following statement on the legislation:
“Both Congress and the administration identified ways to improve the Department of Energy (DOE) Loan Guarantee Program to ensure that taxpayer dollars are protected and used wisely. Unfortunately, the bill passed by the committee today disregards the significant economic and energy policy benefits associated with the program.
“Loan guarantee programs have successfully promoted bipartisan projects such as transportation, health care, education, housing and energy infrastructure policies. In solar alone, the DOE Loan Guarantee Program is providing crucial financing to support the construction of 11 utility-scale solar power plants in the Southwest that will produce 2,700 megawatts of safe, clean power – enough to power 630,000 homes. These are financially sound projects with guaranteed revenue streams.
“We must improve and preserve the integrity of the DOE Loan Guarantee Program rather than hinder our nation’s ability to develop innovative energy infrastructure projects.”
The measure has been reported to the full U.S. House of Representatives for further consideration.
The U.S. solar energy industry employs 100,000 Americans at more than 5,600 companies, mostly small businesses, across the nation in all 50 states.
Established in 1974, the Solar Energy Industries Association is the national trade association of the U.S. solar energy industry. Through advocacy and education, SEIA is building a strong solar industry to power America. As the voice of the industry, SEIA works with its 1,100 member companies to make solar a mainstream and significant energy source by expanding markets, removing market barriers strengthening the industry and educating the public on the benefits of solar energy. http://www.seia.org.