The Solar Energy Industries Association has just rained on California’s renewable energy photo voltaic (PV) parade with the distressing news (PDF) that New Jersey’s commercial PV projects now exceed California’s, and that they are now the hottest and biggest market in the US for commercial PV.
Stirling Energy Systems (SES) recently filed for Chapter 7 bankruptcy, which further complicates California’s big push toward 33% renewable energy by 2020, as two massive solar thermal projects had been approved using the company’s technology.
Solyndra executives, CEO Brian Harrison and CFO Bill Stover, were pummeled in a Congressional hearing last Friday, mostly by Republicans who wanted to know what happened to the $528 million in federal loan money and why the loans were made subordinate to a $75 million private loan. Democrats were also unhappy.
Solar panel manufacturer Solyndra received upwards of $527 million in federal loan guarantees and was singled out by Obama as an example of American know-how and entrepreneurship. However, it filed for bankruptcy unexpectedly last week. It was so sudden that employees going to work that morning had no idea and were stunned when they were told to go HR and collect their final check.
A law in April upped California’s renewable energy goals by 2020 to 33% from 20%, a far more ambitious goal than any other state is attempting. But, while a renewable energy economy is a laudable goal, it seems doubtful that California will actually be able to achieve it. Or if it does, it will be through smoke and mirrors gambits.
Several major renewable energy projects are planned for California, including a grid-scale concentrated solar plant (CSP). They are part of the big push towards meeting California’s ambitious goal of 33% renewable energy by 2020.
California has mandated that 33% of power by 2020 must be from renewable sources. This has created a huge surge in applications to build renewable energy plants as developers have rightfully determined that Californians will have to buy power from them by 2020.
