California-based SolarCity, which lost a U.S. loan guarantee in the wake of Solyndra's bankruptcy, will move forward on a $1 billion solar rooftop project for military housing with financing from Bank of America Corp.
Dallas-based electricity generator Luminant, in filings with the U.S. Environmental Protection Agency, says a new rule to curb power-plant emissions still has "fundamental flaws" and leaves the company "exposed to irreparable harm."
Luminant said modifications that EPA made to the Cross-State Air Pollution Rule in October are insufficient.
In addition, Luminant CEO David Campbell, in a Nov. 16 memo to employees, said unless the rule "is stayed or significantly revised," the generator will have to comply with the regulation by idling its two Monticello coal-fired units and related lignite mining operations in East Texas.
The moves would result in about 500 layoffs, Luminant earlier said.
U.S. refinancing for renewable energy will drop next year after the expiration of a grant program that backed at least $32.9 billion in projects, one of President Barack Obama's most-ambitious efforts to support the industry.
An ambitious plan by a California company to install solar panels for more than 100,000 military housing units has beem revived with private financing after it failed to receive a loan guarantee from the federal government.
The company, SolarCity, was to announce today that Bank of America Merrill Lynch will lend it up to $350 million to put solar electric panels on roofs and other areas to power as many as 120,000 homes for military personnel over the next five years.