Solyndra Gets $535 Million from DOE for Solar Panel Manufacturing
Image via: Solyndra
Just yesterday Mike reported that the current recession could cut the solar panel manufacturing industry in half by 2010. Now we have reports that the US Government finalized its $535 million deal with Solyndra, a solar panel manufacturing company. And we're back in business.The money, explained by Vice-President Joe Biden, will go to produce a solar manufacturing facility capable of producing 500 MW of solar each year. In turn, construction of the plant will create 3,000 jobs, and then 1,000 full time manufacturing jobs once the facility opens.
Oddly enough, they began construction on the facility the same day that they received funds. This new facility itself will manufacture a new, alternative type of solar panel. The Soylendra panels use drops of Copper Indium Gallium Diselenide (CIGS), a photovoltaic material, on the inside of glass tubes, which are then sealed with metal caps on both ends. The tubes are then assembled into flat solar panels, the curve of the tube allows the panels to be mounted flat (better utilizing roof space) rather than tilted on racks like normal solar panels. The panels also allow for better air flow, which is important in terms of keeping panels cool and therefore producing at better efficiency levels.
This is the first loan of its type using funds from the American Recovery and Reinvestment Act and also the first of its type from the US Department of Energy (DOE) since 1980. :Soylendra
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