According to a White House report, "Energy Secretary Steven Chu today offered a $535 million loan guarantee for Solyndra, Inc. to support the company’s construction of a commercial-scale manufacturing plant for its proprietary cylindrical solar photovoltaic panels. The company expects to create thousands of new jobs in the U.S. while deploying its solar panels across the U.S. and around the world."
What does this mean? It means that not only will this aid in the creation of different ways we use energy, but it will also create thousands of jobs in the Bay Area.
Solyndra estimates that:
- The construction of this complex will employ approximately 3,000 people.
- The operation of the facility will create over 1,000 jobs in the United States.
- The installation of these panels will create hundreds of additional jobs in the United States.
- The commercialization of this technology is expected to then be duplicated in multiple other manufacturing facilities.
Energy Secretary Steven Chu claims that the loan guarantee "can create millions of new, good paying jobs that can’t be outsourced. Instead of relying on imports from other countries to meet our energy needs, we’ll rely on America’s innovation, America’s resources, and America’s workers.”