SolarCity US DOE loan approval fails

Facebook
Twitter
LinkedIn
Reddit
Email

According to news reports, US-based  solar installation firm, SolarCity will not be able to complete and comply with documentation deadlines of September 30 to be considered for a US Department of Energy loan guarantee, previously announced.

Earlier this month, the DOE had made a conditional commitment for a partial loan guarantee to SolarCity for PV system installations on residential and other buildings at US military bases. The US$344 million loan would go towards 371MW of new solar power generation capacity.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The project, code named SolarStrong, will be led by SolarCity, with USRG Renewable Finance acting as lead lender in partnership with Bank of America Merrill Lynch.

Only last week, First Solar fell foul of the same deadline due to its inability to meet documentation deadlines.

The US DOE has come under the political spotlight since the collapse of CIGS thin film producer, Solyndra, and a loan of over US$500 million offered to the now-bankrupt company.

 

Read Next

June 24, 2025
US IPP BrightNight and Canadian asset manager Cordelio Power have reached commercial operations at a 300MW solar PV plant in Arizona, US.
June 24, 2025
Chinese solar manufacturing giant LONGi has signed an agreement with Indonesia’s Pertamina New & Renewable Energy to build a 1.4GW module assembly plant in West Java, Indonesia.
June 24, 2025
FRV has started commercial operations at its 55MW Masrik-1 PV project in Armenia, the largest to enter operation in the country.
June 24, 2025
Waaree Renewable Technologies has signed an MoU with Viet Khanh to establish a 100MWp solar project in the region. 
June 24, 2025
Independent power producer (IPP) Recurrent Energy has secured €61.5 million (US$71.4 million) in financing for its Italian renewables portfolio.
June 24, 2025
BluPine Energy has raised INR2,416 million (US$290 million) debt sanctions for its 150MW power project in Aland, Karnataka.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Media Partners, Solar Media Events
July 2, 2025
Bangkok, Thailand
Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico