26 Sep '11, 5pm

Solyndra Backlash Blamed for SolarCity Financing Woes

Solyndra Backlash Blamed for SolarCity Financing Woes

SolarCity 's ambitious plan to bring solar energy systems to 160,000 private military residences is hitting a major speed bump because of problems with a federal loan guarantee, according to news reports. SolarCity was to install, own and operate the solar energy systems at as many as 124 military bases in 33 states. The project, valued at $1 billion, would essentially double the number of rooftop residential photovoltaic systems in the U.S. over the next five years. Funding was expected to come from US Renewable Group's debt financing arm, which partnered with Bank of America Merrill Lynch to provide $344 million to SolarCity for the project. Eighty percent of the loan was to have been backed by a $275 million DOE loan guarantee. SolarCity said Friday that the Department of Energy won't be able to close the loan guarantee before the program expires on Sept. 30. The loan g...

Full article: http://www.greenbiz.com/blog/2011/09/26/solyndra-backlash...

Tweets

Why Solyndra's failure isn’t embarrassing

grist.org 26 Sep '11, 4pm

Solyndra's failure isn’t an embarrassment for the government, says Joe Nocera in The New York Times . In fact, it’s exactl...

SolarCity: DOE Loan in Jeopardy Because of Soly...

renewableenergyworld.com 24 Sep '11, 4pm

SolarCity recently announced its $1 billion SolarStrong project, backed by a $344 million Department of Energy loan guaran...

SolarCity: DOE Loan in Jeopardy Because of Soly...

renewableenergyworld.com 24 Sep '11, 4pm

SolarCity recently announced its $1 billion SolarStrong project, backed by a $344 million Department of Energy loan guaran...

Interesting

Interesting

1bog.org 28 Sep '11, 3pm

One Block Off the Grid organizes group deals on solar energy. Since 2008, One Block Off the Grid has run hundreds of group...

Code Friday.

isabellakuan.com 29 Sep '11, 10am

Tomorrow on the 30th of September,Pernod Ricard Malaysia will be launching their latest campaign to promote responsible co...

Update: SolarCity and SolarStrong Lose to a Con...

greentechmedia.com 23 Sep '11, 8pm

This program will also allow SolarCity to make solar inroads into states that have, so far, had very little solar buildout...