Department of Energy Loan Guarantee Program

DFN: There are a lot of companies which have invested a lot of time / effort / money to make the next quantum leap in deploying solar energy technologies to the world, to America. Yes, some of these companies haven’t been able to make these project work economically, but, I’m convinced renewable energy source are in our future, big time, the question is when, how soon?. Don’t know how continued reliance on carbon based energy sources is going to do the world, America any good. Its a great, easy short-term energy solution, but, it does nothing to wean us away from carbon energy sources. The following email is an ‘open letter’ from the Chairman of Solar Trust of America regarding the importance of the loan guarantee program to the support of the renewable energy

OPEN LETTER TO WORLD REGARDING IMPORTANCE OF LOAN GUARANTEE PROGRAM
04/07/2011
Dear Friends,

America needs your help. We are on the verge of missing the greatest wealth and job creation opportunity in generations. We have the chance today to enter our generation’s “space race” and emerge as the global leader in renewable energy, but Congress is threatening to cut funding for renewable energy projects under the guise of balancing the budget.

The Pew Trusts recently reported the U.S. is already falling behind China and Germany in the global race to develop a robust renewable energy industry. Are we really going to cede leadership in renewable energy without a fight?

What’s on the Congressional chopping block is the Dept. of Energy Loan Guarantee Program, passed into law in 2005 by a Republican congress under the Bush Administration to promote the development of large energy projects, including coal, nuclear, and renewables. Cutting funding for this program would likely put 78 major clean energy projects at risk, jeopardizing over 58,000 new construction jobs and 25,000 permanent jobs across 45 states, including the 7,500 jobs my company, Solar Trust of America, will create through the Blythe Solar Power Project. Without these crucial federal loans, these companies will be forced to look abroad for investment and materials, significantly reducing our ability to create jobs here in the U.S.

Please click here and ask your Senators to save the Loan Guarantee Program and ensure American leadership in the renewable energy industry. Please forward this message to your network, and ask them to do the same. If we don’t act now, America will be left behind, and the tens of thousands of jobs that hang in the balance will be lost.

Remind your Senators that the Department of Energy Loan Guarantee Program is crucial because:

· The loan guarantee program is a good deal for Americans. The U.S. government will actually make a profit on its loan while investing in job creation, energy independence and a cleaner environment.

· The renewable energy industry has the potential for tremendous growth. Thousands of jobs have already been created by renewable energy projects and tens of thousands more are counting on the Loan Guarantee Program.

· The loan guarantee program is proven to work. With just over $26 billion loaned, an estimated 58,000 direct and indirect jobs have already been created.

Think of America’s dominance in aviation, space travel, telecom and IT. The wealth and job creation that accompanied the growth of these sectors was a direct result of successful collaboration between the public and private sectors. I am confident that with investment and hard work, America will emerge as the global leader in clean energy, yet we must act now.

Now is the time to write to your Senators and tell them to “Leave the Loan Guarantee Program Alone.” It’s the best investment of two minutes you can make to ensure good jobs and a clean energy future for all of us.

The renewable energy “space race” is on. Will the United States lead or will we follow? If we lead and support the Loan Guarantee Program, we will position ourselves for continued wealth and job creation in one of the fastest growing industries for generations to come. But if we choose to follow and fail to support the Loan Guarantee program, all the manufacturing, fabrication, and steel production jobs we stand to create here will be lost to China and other countries.

Let’s lead.

Best regards,

Uwe Scmidt

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