Bill Gross, Solar Revolutionary: “We Really Need A Capital Influx Into Renewable Energy!” [VIDEO]

Serial entrepreneur Bill Gross recently spoke with Henry Blodget, executive editor of the Business Insider, about one of his renewable energy venture, eSolar, the innovative developer of concentrated solar thermal power technology.

Gross says solar thermal technology is close to becoming price competitive with old, carbon energy. One challenge faced by his industry, he explains, is access to project finance capital.

, like the ones developed by eSolar, require a lot more upfront capital than natural gas-fired power plants, where costs are spread overtime. “Even if our plants is a good bargain, if the world isn’t lending, they are hard to finance,” he explains, (his full remarks on project finance start at around 18:31).

This need for lots of upfront capital has led eSolar to, over the past year, forge partnerships with New Jersey’s NRG Energy to develop utility-scale solar projects across the U.S. Southwest. More recently, eSolar said it would jointly develop solar thermal projects outside the U.S. with Germany’s Ferrostaal.


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