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Posts Tagged ‘alternative-energy loan’

The green-tech industry has been somewhat finance-challenged, but last Friday the Department of Energy announced plans to provide the first alternative-energy loan in four years. The DOE plans to give California start-up Solyndra $535 million in loans to design rooftop solar arrays.

According to CNet News writer Martin LaMonica, Energy Secretary Steven Chu has revamped the DOE’s loan-vetting process to break the logjam of these loans, which many high-profile green-tech start-ups such as Tesla Motors and battery maker A123 Systems have applied for. Meanwhile, the government’s economic stimulus plan calls for $1.6 billion for research through the national laboratories and for investments to bulk up and modernize the transmission grid to transport solar and wind power.

Green business people ranging from small start-ups to established wind project developers are spending a lot of time in Washington, D.C. and hiring lobbyists in anticipation of a big inflow of money. This is definitely a promising sign!

Read more at: http://news.cnet.com/8301-11128_3-10204816-54.html

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