Nationwide solar rooftop scheme bags $1.4bn DoE backing
The US Department of Energy (DoE) is guaranteeing $1.4bn in loans to put solar panels on commercial building rooftops across the country.
The loan will help to fund Project Amp , a multi-phase, $2.3bn project spanning 28 states. The project will put 733MW of capacity on 750 buildings owned by Prologis, the world's largest warehouse manager, creating enough energy to power 88,000 homes.
Rather than powering the buildings directly, the project will generate energy that will be sold back to electricity companies on the grid.
The project will use at least 90 per cent US-built components and should create 1,000 jobs, the DoE said, 42 of which will be permanent.
"This unprecedented solar project will not only produce clean, renewable energy to power the grid in states across the country, but it will help us meet the SunShot goal of achieving cost competitive solar power with other forms of energy by the end of the decade," said energy secretary Steven Chu.
NRG Energy is the lead investor for the first phase of the project, which will see 15.4MW of solar panels installed in southern California.
The figures represent a significant boost to solar panel volumes. The DoE says that the project will install the equivalent of all the PV solar capacity installed during the US last year.
However, the project highlights how reliant the country still is on traditional coal power. The DoE points out that the whole project will only generate as much power as 40 per cent of an average-sized coal plant. While the project will generate 733MW of electricity, the US commissioned 6.7GW of new coal-fired electricity last year.
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The US Department of Energy (DoE) is guaranteeing $1.4bn in loans to put solar panels on commercial building rooftops across the country. The loan will help to fund Project Amp, a multi-phase, $2.3bn project spanning 28 states.
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