Solyndra breaks ground on 2nd solar plant - 500MW/year

[kristopher]

GG, how many solar plants like this would we need to build in order to meet global energy needs in 40 years just with solar?
The panels are 15% efficient and the plant cost about $750 million. Installation is so easy it lends itself to DIY (except for the hookup to grid, of course).


http://www.solyndra.com/News/Press-Release-090409

Fremont, CA, September 4, 2009 – Solyndra, Inc. today commenced construction of its second solar panel manufacturing plant (Fab 2). Located near its current manufacturing facility in Fremont, California, Fab 2 is designed to produce 500 megawatts per year. The new facility will enable Solyndra to fulfill its announced contractual backlog of over $2 billion and create additional jobs. Solyndra's two Fabs will produce enough solar panels over their lifetime to cut over 350 million metric tons of CO2 emissions or 850 million barrels of oil.

The economy needs clean tech alternatives to help it recover, but our planet requires clean tech solutions in order to survive," said Solyndra CEO and founder, Dr. Chris Gronet. “Fab 2 will allow us to meet customer demand while making a positive impact on the world’s energy and environmental needs. We are grateful for the vision and support of President Barack Obama, the U.S. Department of Energy, the U.S. Congress, and our investors.”

The first phase of Fab 2 is being financed by public and private sources. Solyndra is the first company to receive a loan guaranteed by the U.S. Department of Energy under Title XVII of the Energy Policy Act of 2005. The $535 million loan from the U.S. Treasury, combined with $198 million from an equity financing round led by Argonaut Private Equity, provide the capital required for the project. Goldman, Sachs & Co. acted as exclusive financial advisor to Solyndra in connection with the DOE loan guarantee.

Solyndra estimates that the construction of Fab 2 will employ over 3,000 people, the ongoing operation of the facility will create over 1,000 jobs, and that installation of Solyndra PV systems will generate hundreds of additional jobs.

About Solyndra
Solyndra designs and manufactures photovoltaic systems, comprised of panels and mounting hardware, for the commercial rooftop market. Solyndra employs high-volume manufacturing based on proven technologies and processes to meet the needs of the global solar market. Using proprietary cylindrical modules and thin-film technology, Solyndra systems are designed to provide the lowest installed cost per system and the highest solar electrical energy output for typical low slope commercial rooftops. Headquartered in Fremont, CA, Solyndra operates a state-of-the-art 300,000-square-foot fully automated manufacturing complex.

[valerief]

1. I'll bet it's cheaper than war. nt

[kristopher]

4. If we had the Iraq war budget global carbon emissions would be gone in short order.

You betcha!

[valerief]

6. Wow! That's some chart!!!! nt

[Nihil]

10. Excellent graph!

Thanks for posting it! ::toast:

[WhiteTara]

8. +1 n/t

[joshcryer]

2. Solyndra operates a state-of-the-art 300,000-square-foot fully automated manufacturing complex.

Love it.

[DCKit]

3. But, but, they told me there were no jobs in green tech!

They may be able to slow it down but there is, apparently, enough money out there to do the start-ups.

[DLnyc]

5. If they really do $750 million for 500 MW, that's $1500 per kilowatt,

I think that's comparable to conventional (coal/oil) power plant installation costs. Since the solar plant won't need fuel to run, it's looking more economical to build solar than conventional.
for example: http://www.jcmiras.net/surge/p83.htm

Of course, if the cost of the damage done by the CO2 emitted by conventional plants were to be charged to those plants (instead of being picked up by society as a whole), solar would be a LOT cheaper.

Change is coming, despite our best efforts.

[kristopher]

7. That is MANUFACTURING CAPACITY.

They will be cranking out 500MW of panels every year for perhaps 15-20 years.

The price/watt of the final product is unknown to me, but rumor has it at < $1/watt.

[DLnyc]

9. Oops, you're right, I misunderstood the post.

But, all the more, if the plant costs 750 million, profit typically would need to be on the order of 1/10 of that, or 75 million off 500 megawatts of capacity produced, so $1/watt doesn't sound unreasonable. So, again, it's looking like in the ballpark of competitive with conventional (typically $1 to $2/watt, I think).