solar project funds – H.R. 1
On Mon, Feb 14, 2011 at 8:23 AM, Michael Rader, SEIA <grassroots> wrote:
Share on Facebook Scotts, In documents released this weekend, members of the House of Representatives have proposed cutting billions of dollars in loan guarantees for solar projects. While there is certainly a need to address the long-term fiscal issues in the United States, these cuts to the loan guarantee program would be disastrous for all solar projects with pending loan guarantees. At a time when the economy is beginning to recover, we cannot afford to jeopardize the tens of thousands of jobs these projects represent.
Tell Congress to protect American jobs and restore the solar loan guarantees by striking sections 1425 and 3001 from H.R. 1!More information:
- Loan guarantee programs serve a critical market function by enabling new technologies to move from the prototype stage to commercial deployment.
- It would be a huge breach of trust and faith for Congress to eliminate this program as the projects are nearing finalization of terms and financial closing. Many have invested significant time and money during the lengthy approval process.
- Technically, these funds are not obligated until a loan guarantee is closed and therefore conditional loan guarantees and applications that are in due diligence are considered un-obligated. However, Congress and the Administration should treat funds for in-progress loan guarantees as if they are obligated.
As always, we here at SEIA appreciate your efforts. Thanks for being a part of Team Solar!
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Scotts Contracting 