Two-thirds of the nation’s solar capacity installed in the U.S. last year was utility-scale solar power. The rapid growth of this new industry has been driven by government loan guarantees and an Investment Tax Credit worth 30 percent of a project’s cost. The results have been the Ivanpah plant, a venture between BrightSource Energy, NRG Energy, and Google, and two plants developed by the Spanish energy company, Abengoa. Located in the Mojave Desert, all three produce electricity when the sun is not shining by storing solar power for overnight use. Between them, they produce enough electricity to power over 300,000 homes throughout California. But the loan guarantee program has expired, and the tax credit drops from 30 percent to 10 percent at the end of this year. So solar power companies are looking to other financial tools to attract investors.

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