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Keyword: solarcity

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  • Elon Musk Announced Another Huge Bet Today, And The Fate Of The Solar Industry Is Riding On It

    06/17/2014 11:58:19 AM PDT · by PoloSec · 47 replies
    Business Insider ^ | June 17 2014 | Rob Wile
    We recently explained how Tesla needs to build what it is calling a "gigafactory" for batteries in order to survive. The rest of the world is not building enough lithium ion storage to meet what Tesla thinks will be surging demand, so it has decided it must do it itself by making a very costly factory. Tuesday, SolarCity (Elon Musk's other company) announced it will have to do the same for solar panels. The firm unveiled plans to build one of the world's largest high-efficiency solar panel plants, using technology from Fremont-based Silevo, which they also said they'd acquired. "We...
  • Tesla's 'GigaFactory': Batteries not included?

    03/22/2014 1:43:07 AM PDT · by Cincinatus' Wife · 7 replies
    Pittsburgh Tribune-Review ^ | March 21, 2014 | Daniel Mcgroarty
    To convey some sense of the audacity of Tesla's Elon Musk and his plans, consider that the sale of all-electric vehicles in the U.S. reached a high of 100,000 in 2013 — but that's still less than 1 percent of all cars sold. Enter Tesla's GigaFactory, aiming by 2020 for annual production of 500,000 lithium-ion battery packs. Under one roof — a very large one, at 10 million square feet — Tesla will “manage everything from processing raw materials to the assembly of the batteries.” All of which begs the question: Where is all that lithium going to come from?...
  • Solar firm linked to Obama donors could be 'next Solyndra,' top GOP Sen. warns

    11/19/2013 6:01:59 PM PST · by jazusamo · 17 replies
    Fox News ^ | November 19, 2013 | Joseph Weber
    A California-based solar company backed by several Obama supporters has been receiving millions in federal tax credits while losing $322 million since 2008, raising concerns about the company “becoming the next Solyndra.” Among SolarCity Corp.’s biggest investors is Elon Musk -- the high-profile donor and fundraiser who co-founded PayPal and whose companies SpaceX and electric-car company Tesla Motors have received at least $846 million in loans and startup money from the Obama administration. Alabama Sen. Jeff Sessions, the top Republican on the Senate Budget Committee, warned about SolarCity’s financial standing in a letter Monday to the Treasury Department. “There is...
  • The Obama Green Energy Scam You May Have Missed

    12/27/2012 7:00:07 AM PST · by Kaslin · 3 replies
    Townhall.com ^ | December 27, 2012 | Donald Lambro
    WASHINGTON - Have you seen the latest development in President Obama's waste-ridden, clean energy program that's now under federal investigation at the U.S. Treasury Department? Three of the country's biggest residential solar panel installers -- SolarCity, SunRun and Sungevity -- have been subpoenaed by Treasury's Office of Inspector General for their financial records to determine if they had inflated the market value of their costs when they applied for federal reimbursement. The firms have reportedly received more than $500 million in federal grants and tax credits. Officials in two of them, Solar-City and SunRun, have been among some of Obama's...
  • Surprise! Treasury IG probing multi-million-dollar fraud in green-energy grants, tax credits

    12/14/2012 11:25:40 AM PST · by Ernest_at_the_Beach · 30 replies
    Hot Air ^ | 12:41 pm on December 14, 2012 | Ed Morrissey
    And the probe doesn’t involve some bit players in an obscure program, either.  The 1603 Program was one of the centerpieces of Barack Obama’s 2009 stimulus, designed to subsidize a transition from hydrocarbon-based energy to renewables in the residential market, and federal government sunk $13 billion into the effort.  Now the Inspector General of Treasury has opened a probe of the three largest providers of solar panel installations, who gained the most from the 1603 Program, and who may have fraudulently calculated their bills in order to claim more taxpayer cash: Three of the country’s most prolific installers of...
  • Carney: Green stimulus profiteer [Elon Musk] comes under IRS scrutiny

    10/15/2012 5:19:37 AM PDT · by Cincinatus' Wife · 14 replies
    The Washington Examiner ^ | October 14, 2012 | Timothy P. Carney
    Vice President Biden snickered during last week's debate at the suggestion there was waste, inefficiency or cronyism in the 2009 stimulus bill. If he can stop cackling for long enough, Biden, the self-proclaimed "stimulus sheriff" should sit down with the IRS officials and the federal inspector general who are investigating a solar company owned by leading Obama donor and subsidy recipient Elon Musk. Musk, as he cashes in on his solar investment by taking his company SolarCity public this month, had to make an awkward admission in his financial filings with the Securities and Exchange Commission. The Internal Revenue Service...
  • SolarCity — Another Obama Scandal

    10/12/2012 1:51:43 PM PDT · by Cincinatus' Wife · 6 replies
    Western Journalism ^ | October 12, 2012 | Jack Inglewood
    SolarCity (SCTY), another “green energy” company and recipient of millions of dollars of taxpayer funds, in under investigation by the Internal Revenue Service (IRS), sources reveal. The company, which recently filed for its initial IPO, has disclosed that it received subpoenas in July from the U.S. Treasury Department. The Treasury Department is investigating whether companies overstated the market value of solar panel arrays they installed when claiming the 30% federal cash grant. The IRS also notified SolarCity that it is auditing two of its investment funds and reviewing the claimed value of solar systems submitted to receive the federal cash...
  • Dealers call Tesla factory stores illegal

    10/09/2012 2:10:21 PM PDT · by Cincinatus' Wife · 13 replies
    Automotive News ^ | October 8, 2012 | Amy Wilson with Mark Rechtin
    After opening several stores without much pushback, Elon Musk's ambition to replicate the Apple experience in Tesla factory stores is now facing potential roadblocks. Dealer associations in a handful of states, and state regulators in at least one case, say Tesla's stores violate state franchise laws that prohibit factory ownership of dealerships. Electric-vehicle maker Tesla now operates 17 stores in 10 states and the District of Columbia, most in shopping malls. Another six are scheduled to open this fall. The protesting dealer associations say Tesla's factory-owned stores present unfair competition for rival dealerships, are inconvenient for consumers needing repairs and,...
  • SpaceX Head Obama Bundler?

    09/18/2012 4:58:22 AM PDT · by Cincinatus' Wife · 12 replies
    PJ Tattler ^ | April 18, 2012 | Christian Adams
    Space Shuttle Discovery sailed off into the sunset and the United States for the first time in a half century has no proven ability to put men into space. Thank President Obama. Or maybe, thank SpaceX founder Elon Musk. (See Rand Simberg’s very different take on things.) SpaceX is getting federal dollars that NASA would otherwise use. .......While NASA dollars have moved into the pockets of SpaceX, we now know that Elon Musk is an Obama bundler. Yesterday I had a conversation with a Congressman who revealed to me that Musk is a big Obama friend and bundler. Musk has...
  • SpaceX: Solyndra in Space

    08/26/2012 10:17:25 AM PDT · by Cincinatus' Wife · 62 replies
    Big Government - Breitbart ^ | August 24, 2012 | George Landrith
    Despite the news and pictures from NASA's Mars rover Curiosity, America's once great space program is on life support because we no longer have a serious manned space exploration program....And the Obama Administration's unimaginative and amateurish vision for space exploration -- even if successful -- will not revive the dying program. It merely follows the disturbing pattern of the Solyndra scandal, funneling tax dollars to Obama donors and fundraisers. [SNIP] ....SpaceX collects tax dollars so that it can learn how to build and develop something that other companies were doing a generation ago. It is curious that SpaceX is now...
  • SolarCity US DOE loan approval fails

    09/26/2011 9:12:48 AM PDT · by martin_fierro · 9 replies
    PVTech ^ | 9/26/11 | Mark Osborne
    SolarCity US DOE loan approval fails According to news reports, US-based solar installation firm, SolarCity will not be able to complete and comply with documentation deadlines of September 30th to be considered for a US Department of Energy loan, 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. The project, code named SolarStrong, will be led by SolarCity, with USRG Renewable Finance acting...
  • SolarCity latest to see loan loss post Solyndra

    09/23/2011 5:16:06 PM PDT · by mdittmar · 3 replies · 1+ views
    Reuters ^ | Sep 23, 2011 | Nichola Groom and Timothy Gardner
    Solar panel installer SolarCity said on Friday it was the second company in as many days that will not get finalization of U.S. government loan aid by a September 30 deadline. The Department of Energy informed SolarCity of its inability to close the loan 48 hours ago, blaming increased paperwork resulting from a Congressional investigation into the Department of Energy's $535 million loan guarantee awarded to bankrupt solar company Solyndra, SolarCity said in a letter to the Republican lawmakers heading the probe.The DOE loan guarantee program, which is under fire for missing signs its first recipient of loan aid, Solyndra,...
  • Solar co. nets $150M loan despite crash of Evergreen, Solyndra

    09/10/2011 3:16:53 PM PDT · by NoLibZone · 13 replies
    bostonherald.com ^ | Sept 9 2011 | By Greg Turner
    Bay State start-up 1366 Technologies Inc. has steered clear of the dark clouds shrouding the nation’s solar industry. The Lexington company yesterday finalized a $150 million loan guarantee from the U.S. Department of Energy — the same day FBI agents raided bankrupt Solyndra, a DOE-backed California solar panel maker that’s become a symbol of “green” government investment gone wrong. “There are a lot of taxpayer protections in here,” 1366 spokesman Craig Lund said. “If we deliver on certain milestones then we’ve got certainty of funding, and on the flip side I think the government has very strong conditions in there.”...