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July 03, 2010 08:55 PM UTC

Obama announces $2 billion in loan guarantees for 2 Colorado solar companies

  • 39 Comments
  • by: BobMoore

( – promoted by ClubTwitty)

Some big Colorado news today in the president’s weekly broadcast address. President Obama announced almost $2 billion in loan guarantees to two Colorado-based solar companies that will create several thousand jobs. The money comes from the 2009 stimulus bill.

The most direct impact for Colorado will be the $400 million loan guarantee for Abound Solar, which was born at Colorado State University and now has a plant in Longmont, headquarters in Loveland and R&D facilities in Fort Collins. The expansion will create 300 new jobs in Northern Colorado and 900 at a new plant in an abandoned Chrysler factory in Indiana. There’s also the possibility of some significant job growth as suppliers move closer to the plants. Here’s what Obama said in his weekly broadcast address:

The second company is Abound Solar manufacturing, which will manufacture advanced solar panels at two new plants, creating more than 2,000 construction jobs and 1,500 permanent jobs.  A Colorado plant is already underway, and an Indiana plant will be built in what’s now an empty Chrysler factory.  When fully operational, these plants will produce millions of state-of-the-art solar panels each year.

Here’s my story this morning that focuses on that angle. http://bit.ly/awU6K7

The other guarantee announced by Obama is $1.45 billion for Abengoa Solar Inc. — headquarterd in Lakewood — to build a large solar generation plant near Gila Bend, Ariz.

See Obama’s weekly address here:

http://www.whitehouse.gov/brie…

Comments

39 thoughts on “Obama announces $2 billion in loan guarantees for 2 Colorado solar companies

  1. and how stimulus money should be spent to create private sector jobs while encouraging movement to new energy economy options.

    Solar as it exists today may be a only a small part of a solution to our dependence on fossil fuels which are increasingly hard to get safely for environmental, technological (the easy to get oil is about gone and dangerous to get stuff is what’s left) and geopolitical reasons. But there is no reason to believe that better technologies for solar and other renewables can’t be developed if we put the money and effort into it. Colorado is well positioned to benefit.

    Instead of focusing on fossil fuels it’s long past time to focus on renewables, nuclear (yes I said it) and improved conservation habits assisted by developing the most energy efficient products and technology.

    Good start on two fronts.  Can’t wait to hear from the right why this is terrible, radical, un-American and bad for Colorado.  But I’m sure they’ll come up with something. And if Romanoff wants to use this as an example of corrupt DC pol Bennet getting pork for Colorado, good luck with that.

        1. and when they can’t pay it back, the government will bail them out and pick up the tab anyway. The Obama stash I was referring to is the stimulus.

          1. During the great Depression FDR “stimulated the economy over and over.

            just after pearl harbor was bombed. early 1942 saw “stimulus” skyrocket. (republicans did not object suddenly)

            the federal government Paid out trillions (relative to today’s amounts) yet again to “stimulate” war production.

            and the great Depression finally ended.

            republicans can’t see that (or refuse to acknowledge it)

            OR

            actually WANT the American public to suffer to regain power back.

            I suspect the latter.

              1. by reducing stimulus funding and caused a double dip which is what the current Republicans in Congress are working on doing today.  I doubt that this is what you are talking about because it would argue against your post Bush sudden conversion that deficits are bad but hey you are right in a tangent sense that FDR did prolong the Depression of the 30’s by focusing on the deficit instead of employment.

                1. Looked at the stock market recently? Actual unemployment numbers (including those who have given up)? And the reason for it is that Keynesian economics are false. The so called “stimulus” has done nothing but make things worse.

              2. But care to explain yourself in the standard way by, perhaps, formulating an argument with something to support the mindless talking point currently erupting from your keyboard?  Would the link be from Sowell or Krauthammer?  

              3. The Depression started under Hoover and got worse until FDR. Hoover(R) is whom prolonged he Great Depression.

                in 1933 when FDR was sworn in the FIRST time unemployment was at 25%.

                By the end of 1941, unemployment was at 12%.

                seems to me FDR was “stimulating” us out of the Depression. (slowly but it was progressing) WWII prodded the republicans into going along with War spending. (as republicans Love funding war.) The resulting increase in production finally did the trick.

                Today the defense Budget is really nothing more than Government Welfare to republican cronies.

                Imagine if ALL Americans were deemed as worthy as republicans to receive Welfare?

            1. on exactly the source of our out of control deficit.  It shows pretty clearly the complete failure of the Republican belief that tax cuts to the wealthy are the way to stimulate our economy.  Too bad bj wasn’t more vocal about his opposition to tax cuts and unnecessary wars by the past administration.  Thank God Obama is investing in real jobs instead of coddling the rich like Republicans.

            2. Obama like agenda, fumbled along with ineffectual and bungling public interventions during the 1930’s, all meant to stop the Depression – “over and over”.   Most see that the Depression began to wane as shipments, both foreign and domestic, of war goods began even prior to 1940.  Indeed, hatred of better defined nation-state enemies spurred acceptance of deficits, spiked productivity and our war goods were in high demand.   One would think then that what we need is to stop focusing on these wonky public programs and instead find a more defined nation-state enemy and better promote our war goods to boost foreign demand for them.  

                1. is to include All Governmental employees and Military personnel In the numbers of the employed…

                  It artificially reduces the percentage of actual Unemployed persons. “cooking” the books to appear things are not as bad as they really are.

                    1. for telling us what you believe, despite this being completely irrelevant (again).

                      Perhaps you ought obtain a bit more info so that you can understand the context of Froward’s statement? No where does Froward suggest counting gov and military employees as unemployed.

                      Figure out what Froward was talking about before you respond again. (Remember, google is more than a really big number.)

                    2. as unemployed… After all they are the largest group on federal welfare handouts.

                      (a little more than 3/5 of the federal budget)

                      funny as republicans will pay defense welfare without blinking. YET will intentionally let the private sector suffer.  

              1. It destroys resources for all.  Building stuff to blow things up doesn’t produce a sustainable world or stable economies.  In the past the economic hardship of being slaves if your country was conquered was a very good incentive to spend more for your defense but today’s world is so vastly different that suitcase nukes are to be feared more than a foreign takeover.  Our defense appropriations are probably some of the most wasteful programs in the entire world but cutting defense spending sends up howls of horror from those who claim to be deficit hawks so we will continue to ignore real threats like loose nukes and concentrate on trying to bribe corrupt third world politicians into taking care of their people.  War is not the way to a sustainable future for a world with dwindling resources.

                1. agree that our military seems as economically inefficient as any other public endeavor — or possibly more so — so many seem to find the results of investment in it more necessary and satisfying.  Of course, these feelings being proportional to the length of of it and proximity to it.  No doubt, conventionally speaking, many agree about irrelevancy as the communists would be eating McDonald’s and building Iphones with or without Reagan’s posturing.

  2. of our Colorado economy.  Kudos to Ritter and Obama for investing in Colorado via these loan guarantees.  Colorado is poised to become a hub for the new green energy industries.  Hopefully we can save our colleges from Republican deficit destruction so that there will be some skilled workers available to hire.

    1. of your comment with the last one by bjob.

      The inane (I’m being kind) followed by a burst of intelligent rationality.

      Why this place is so damn addicting!

        1. Your “full sentences” are so enlightening:

          O-ba-ma! O-ba-ma! O-ba-ma!

          Perhaps you were referring to this in Gilpin Guy’s comment?

          Kudos to Ritter and Obama for investing in Colorado via these loan guarantees.

          If so, I would beg to differ.

          And even if you were correct, at least it’s a complete thought and actually says something.  

    1. Bennet and Markey were the two people I talked to Friday, in advance of the announcement. The were both quoted extensively in the story linked above. They knew the announcement was coming but were under a 4 a.m. MDT Saturday embargo before issuing public comments.

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