INTRODUCTORY SPECIAL INTRODUCTORY ... - PHOTON Info

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48 Business DOE in the spotlight Solyndra first applied to the DOE’s loan guarantee program in December 2006. This program was created under the 2005 Energy Policy Act, which authorized the DOE to dispense $47 billion in loan guarantees for innovative technologies. The federal stimulus bill, known as the American Recovery and Reinvestment Act, signed into law in February, appro- priated an additional $60 million to the DOE for loan guarantees for power gen- eration and manufacturing projects. But it took some time for the DOE to publish rules on how to obtain the new loans. After months of anticipation among US PV companies, the DOE released a solicitation announcement in July detailing how and when to apply for $30 billion in loan guarantees. The first application deadline was September 14 th . A flat roof with a Solyndra system on the left, and conventional crystalline modules on the right. Given the large sums of money in- volved, and the six month wait to roll out the loan program, the DOE finds itself in the political spotlight. Solyndra’s Kelly said that the agency’s loan guarantee staff applied »a lot of extra scrutiny« to finaliz- ing the Solyndra loan, perhaps explaining why the negotiations took more than five months. As the first loan guarantee recipi- ent since the 1980s, Solyndra was appar- ently a guinea pig of sorts. According to Kelly, the DOE used its negotiation process with the company to iron out – and clearly define – its loan guarantee process for future recipients. Nonetheless, compared to his experi- ence with the DOE under the Bush admin- istration – when it took two and a half years for the company to move from its initial proposal in December 2006 to the conditional loan guarantee announcement in March – the loan finalization process under the Obama administra- tion was »fast,« says Kelly. The big question now is, when will the DOE award the remainder of the $30 billion in loan guarantees? The July solicitation announcement did not pro- vide a clear answer, only divulging that the agency’s objective was to support projects »most assured of commenc- ing construction, and hence having a loan guarantee issued, no later than September 30th, 2011.« Secretary Chu provided little additional information at the groundbreaking: »We’re going to make many more awards in the weeks and months ahead.« Certainly, US solar companies are watching closely how this will play out. mdm November 2009
– so no complex mounting systems are required. The company claims that the modules can even withstand winds as high as 130 mph, since the gusts natu- rally flow through the spaces between the tubes. Lower installation costs com- bined with expectations of higher energy yields per kW, are what make the economics of this module so attractive, says Kelly. Although the DOE did not respond to our interview requests, at the groundbreaking ceremony Secretary Chu of- fered some possible reasons – albeit vague – for why his agency awarded the loan guarantee to Solyndra: »Building a better solar panel is exactly what Solyn- dra has done. Compared to traditional solar panels, Solyndra’s innovative thin- film system produces more energy for less money and less hassle.« A prominent theme at the ceremony was the potential for Solyndra’s new plant to create jobs. The company says November 2009 49 ıı that the construction project will create 3,000 jobs, while the completed facility will employ more than 1,000 individuals, as well as create »hundreds« of additional installation jobs. Presumably, the DOE was moved by these employment figures, given the significant political pressure to jump-start the economy. Order backlog of $2 billion Solyndra already operates one 300,000 ft 2 automated production facility in Fremont with an annual production capacity of 110 MW. When completed, the second facility, known as Fab2, will have a production capacity of 500 MW. Fab2’s construction will proceed in two phases. Kelly expects the first phase to be completed by the end of 2010, and commercial production to begin by the end of the first quarter of 2011 at a level »more than half« of the 500 MW target. Capi- tal for the first phase includes the $535 million loan – from the US Treasury and backed by the DOE – along with $198 million from an equity financing round led by Argonaut Private Equity. Regarding the second construction phase, Kelly says that »the exact cost is not yet fixed but we could easily come up with what we need from working capital.« He added that there were other financing options for this phase, including another government loan and equity financing. Solyndra targets its modules for large, flat commercial rooftops, particularly ones that are highly reflective. The cy- lindrical modules have attracted interest from installers, and the company already boasts an order backlog of $2 billion. In the last year, Solyndra signed sales con- tracts with Pennsylvania-based Carlisle Energy Services, Netherlands-based inte- grator SunConnex B.V., and three German integrators – GeckoLogic GmbH, Umwelt- Sonne-Energie GmbH, and Ebitsch Ener- gietechnik. At the groundbreaking ceremony, CEO Chris Gronet declared hy- perbolically that his company’s plan was »to cover the 15 billion m 2 of flat rooftops in the world. This will generate 1,000 GW, or enough power for one-third of all US commercial buildings.« Michael D. Matz
Page 1: A LONG, STRANGE TRIP SOUTHERN EXPOS
Page 4 and 5: 4 Under the Sun National Renewable
Page 6 and 7: 6 Photo of the month The garden of
Page 8 and 9: May we introduce ourselves? The PHO
Page 10 and 11: 10 Readers‘ letters PHOTON, welco
Page 12 and 13: 12 Readers‘ letters So why are so
Page 14 and 15: 14 Under the Sun History A long, No
Page 16 and 17: 16 Under the Sun The headquarters o
Page 18 and 19: Under the Sun selling book, »A Gui
Page 20 and 21: Under the Sun Academy of Sciences,
Page 22 and 23: Under the Sun made to uniquely fit
Page 24 and 25: Under the Sun to figure out how to
Page 26 and 27: Under the Sun heaters and books to
Page 28 and 29: 28 The 13 Solar Colonies PHOTON inv
Page 30 and 31: Politics to federal income tax. Als
Page 32 and 33: State 32 Politics invest. If histor
Page 34 and 35: 34 Politics San Francisco From mega
Page 36 and 37: 36 Politics (see table below). Acco
Page 38 and 39: Politics cent of permits are over-t
Page 40 and 41: 40 Politics Stimulus package Feel t
Page 42 and 43: 42 Politics guide companies interes
Page 44 and 45: Politics »There was a lot of hoopl
Page 46 and 47: Solyndra, Inc. (2) 46 Business Seri
Page 50 and 51: 50 Business US Boom, bust, or neith
Page 52 and 53: Business guarantee program, and the
Page 54 and 55: 54 Business Buying programs Solar b
Page 56 and 57: Business run three campaigns a year
Page 58 and 59: Business in additional savings for
Page 60 and 61: 60 Science & Technology AlsoEnergy
Page 62 and 63: System Photonics S.p.A. 62 Science
Page 64 and 65: Science & Technology In October, Ya
Page 66 and 67: Science & Technology Japan’s Shar
Page 68 and 69: Little product, big comeback An old
Page 70 and 71: Science & Technology Microinverters
Page 72 and 73: Science & Technology Filling a nich
Page 74 and 75: Anne Kreutzmann / photon-pictures.c
Page 76 and 77: 76 Science & Technology Exeltech’
Page 78 and 79: Architecture Belgium Returning to e
Page 80 and 81: 80 Architecture November 2009
Page 82 and 83: 82 Architecture November 2009
Page 84 and 85: 84 In Practice Proposals The perfec
Page 86 and 87: 86 In Practice Is your proposal com
Page 88 and 89: 88 In Practice that are predictable
Page 90 and 91: 90 In Practice System: accomplished
Page 92 and 93: In Practice bluntly: »We have this
Page 94 and 95: Elkus’ golden trout pond is the l
Page 96 and 97: Test Laboratory A couple of years a
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Events From system inspection to in
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November 19-20, 2009 Alternative En
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Who should exhibit? • Manufacture
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Education & Training Producer-indep
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Internships New internships in the
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Ask the Editors Whether it’s abou
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Industry Registry Here is informati
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Preview The issue 12-2009 appears a
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