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Many -- what we don't know about using solar panels to make electricity but.
The hot new technology is concentrated solar used in the some power to run turbines just like those used in fossil fuel -- Now today all -- this is the company who's really at the forefront of this is opening the largest planted the US that makes components.
First Solar thermal plants we are joined by Bob Fishman offer CEO.
We are also awaiting senator majority leader Harry Reid who has with him -- We welcome you mr.
fish and I was just so what you in Silicon Valley hearing your story and I've looked at first have you tell people.
What the plant is doing making gigantic mirrors and -- in a nutshell.
Imagine you're telling kids who don't understand how this works.
How is this going to make energy for the rest of the nation.
Well good to talk again Liz.
We if it's actually pretty simple all the mirrors focus on pipes water goes through the pipes turns into steam.
And the steam turns -- steam turbine which produces electricity.
With this facility will do is we will mass produce.
Those mirrors here cool this factory will make -- -- every eight minutes giving us the capability to make 700 megawatts.
Worth of mirrors every year.
That's enough for half a million homes.
Look at the market though do you think is out there for this I mean -- in in realistic turnovers I mean -- and a half of those countries still powered.
Electricity wise by coal so the solar isn't isn't still very very small part of how to get power in this country I mean I would think that.
-- you gotta have some pretty long term projections tend to be profitable here.
While we have to change the fact that Solarz a small part of electricity in this country.
This facility alone can make 700 megawatts a year -- the mirrors.
And we have every hope that we will double production of this facility.
And -- a number of facilities like this around the country and around the world -- -- out -- could be producing and that's what we want to know who's -- -- the market like out there for you.
Independent power producers.
You will have the ability to produce.
These -- for people to put into projects.
Throughout the desert southwest.
And then other factories.
-- demands other places in the world.
-- isn't any Jimmy hit it your sense that ten years from now ten years right now solar is at it's it's not even Greg from -- not even one to 2%.
Where is solar power in ten years from now how much electricity ever gonna get out of solar power -- -- Well author alone probably will have somewhere between 1520000.
Megawatts of its technology deployed -- -- -- Nash -- -- -- I'm just curious for on a national scale.
Let me put it to you this -- list without water yeah I can imagine I don't know how yet.
Before the next nuclear plant comes on line.
Boss -- will will have the ability to have produced over 101000 megawatts or ten nuclear plants.
Word of -- at the very Italy's -- so I think that what you really have to think about is this is the technology.
That is ready to go today.
We can produce large quantities of power -- actually price competitive with nuclear price competitive with natural gas.
And with reasonable.
Amount of carbon tax cost competitive with new coal.
Sure I definitely let's bring in senator Harry Reid we are honored to have -- here he has just help you open the plant of course keeping the senator from Nevada.
Senator Reid tell me your perspective on this planted wider supportive -- it at a time.
When congress is having trouble passing the housing bill because we've got the energy credits attached to it and some senators don't want that.
-- the energy they've tried it -- catch me and -- tax credits to it I'm not letting them do that.
I'm not going to let them do that we're going to do that as a freestanding bill and we're going to do that and within the next month.
I would only add to what was just said about.
-- -- We talk -- back cost competitiveness.
But the one thing we failed to talk about is those.
Cost that you don't see on the bottom line -- yes.
Cole makes -- sick.
Oil makes us sick its global warming it's ruining our country its ruling the world we've got to stop using fossil fuel we have.
Taken it out of the earth carbonneau here and put it in the atmosphere and it's making us all -- it.
It's changing our world I would also say -- us.
Solar doesn't use any water -- -- the most water intensive.
Power producer we have is.
When we talk about no -- -- uses more water than even cold I use huge amounts of water and a -- western part of the United States.
That is something that is -- -- -- you can't do that we don't.
How water Bob -- -- that well why jump in and and asked Bob -- and how necessary.
Our tax credit to your business if the senator says.
I'm not gonna let congress do that attach those tax credits.
Well you know we we've been very supportive and very grateful of what the senators trying to do to get the investment tax credit for solar.
It does affect our cost we are cost competitive today with the investment tax credit.
If we have a long enough run with that tax credit will be able to lower our cost -- will be able to be cost competitive without it.
But in order to launch this industry.
And to have it make a significant impact on United States energy picture.
We need that investment tax credit and having just clear up I said I said I would not allow -- on the -- don't know I'm going here.
Are we have a freestanding FISA legislation.
He was renewables and that's where that's what don't want not on the housing not.
Senator reed let me follow them to the -- you just mentioned -- you're talking about oil about -- making Americans sick but I have to go about something that we asked our profession and that is that cold.
Right now accounts for 50% -- electricity generation in this country oil is another 20%.
At least and you've got Americans right now they're dealing with with.
Energy issues and old get in gas high gasoline right now.
So I think what a lot of folks are looking for a including governor Sarah -- from Alaska -- -- its -- letter on Friday.
Saying when he doubled and -- -- like he did respond if you've responded to her by the way.
-- but how do you respond Americans.
The pressure that -- on Americans today.
Well first -- first I smile.
I smile because we cannot produce our way out of the phones we.
You could -- -- -- offshore stuff you.
Three -- and we in America still have less less than 3% of the oil in the world we cannot produce our way out of the problems we have.
We can course do better but we can't produce our way out of -- -- we have we don't have the natural resources to do this so what we should do is look.
At a different way of doing -- and a different way of doing is with renewables that's the only way we can do it.
The sun is the best when his good geothermal is good and we need to give.
The great competitive spirit of American business the ability to do that and they can do that we give them some tax credit.
Bob I want to -- you -- -- -- -- let me let Bob have the final word as as you look at this opening of your brand new plant with gigantic mirrors and and a real hope.
That this is the technology because of course there is a land grab in the early years of of a new technology.
That that you -- yours will be the one that makes it what do you do to ensure that and how do you keep costs down.
Well first of all with respect of the land grab a lot of people who -- grabbing land did not have a technology a lot of them are.
Our investment banks that are.
Are counting on the solar industry taking off in a big way and we think that well so some of the people involved the land grab our potential customers.
Having said that it's important that that that that people who are requiring sites for solar energy.
Take into account all the the technical factors that are important not the least of which is proximity to transmission lines.
It's great to have you both up Bob Fishman a Basra and our sincere thanks to senator Harry Reid you are always welcome here on Fox Business.
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