The US space agency NASA’s rothirai space investment fund is backing companies that are betting that the United States will lead the way in solar energy, particularly for satellites.
“Our investment in rothirs solar fund will enable us to continue to support companies that understand the value of clean, low-cost solar energy to U.S. and international businesses,” said NASA Administrator Charles Bolden in a statement.
“In this way, our investment in the rothres solar fund is helping to drive down the cost of solar power in the United State.”
The rothirofonds investment will support companies such as SunPower Corp., SolarCity Corp., and SolarCity Ventures.
The funds are being developed in partnership with the Solar Energy Industries Association (SEIA), a trade group that represents more than 300 solar energy companies, and will be available for the first time in 2018.
“These funds will help spur the growth of solar energy in the U.A.E.,” said Jim Wibison, the CEO of SEIA.
“With the recent launch of solar panels and other innovations, it’s now more cost-effective and economically viable to use solar energy for a variety of applications.”
The $1.5 billion rothirec funds will be used to finance the development of solar manufacturing, solar photovoltaic systems, solar thermal power generation, solar-electricity production, solar electric vehicles, solar energy storage, and related technologies.
“We are proud to partner with NASA and its investment fund for a robust and diversified portfolio of solar technology investments,” said Robert P. Adams, chairman and CEO of SunPower, in a release.
“These investments will enable SunPower to continue providing the U