President Obama Announces $400 Million to Support Solar Panel Manufacturing
Posted in Smart Grid on July 8th, 2010 by News Desk –
Washington — In his most recent weekly video address, President Obama announced a $400 million federal loan guarantee to Abound Solar to manufacture thin-film solar panels, which would be the first time technology for Cadmium-Telluride panels is manufactured commercially anywhere in the world.
Abound Solar’s operation includes two facilities, one in Longmont, Colo. and the other in Tipton, Ind. The Indiana facility will occupy a factory originally constructed for a Chrysler auto parts supplier that never moved in due to the economic downturn. Abound Solar said it anticipates the project will create about 2,000 jobs during construction and 1,500 permanent jobs.
The company will use manufacturing technology developed jointly by Colorado State University, the National Renewable Energy Laboratory and the National Science Foundation, which produces photovoltaic panels using a process in which thin films of Cadmium-Telluride are deposited onto the glass panels. The technology offers numerous improvements over existing manufacturing methods and reduces overall product costs and is expected to create significant enhancements in film quality, device efficiency and stability, and product yield, according to the U.S. Department of Energy
When fully operational, Abound Solar’s facility will produce millions of panels annually, enough to support up to 840 megawatts (MW) of new solar power annually. The project is expected to reach full capacity by 2013.
Funds from the federal government directed to the Abound Solar project are coming through the American Recovery and Reinvestment Act.
