An innovative solar panel manufacturer in Fremont,
California, has received a $535 million loan guarantee from
DOE, backed up with Recovery Act funds. Solyndra, Inc. will
use the loan to build a manufacturing facility that will have the
capacity to produce 500 megawatts of solar panels per year.
In 2007, renewable sources of energy accounted for about 7% of total U.S. energy consumption and 9.4% of electricity generation. (Source: EIA)
55 of the world's 65 largest oil producing countries are past their production peaks and in decline.
Today’s challenges of reducing greenhouse gas emissions while meeting the country’s steadily rising demand for electricity make it essential for legislatures and public utility commissions to shift their focus toward mechanisms that make demand reduction as profitable for utilities as increasing supply. (Source: Institute for 21st Century Energy)
Fossil fuels provide more than 85% of all the energy consumed in the US, nearly two-thirds of our electricity, and virtually all of our transportation fuels. (Source: DOE)
Estimated energy demand is charted to grow by almost 50% in the next 20 years.
