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Solyndra files for bankruptcy, federal loan guarantees in peril

The DOE guaranteed $535 million in loans for Solyndra and is being less than forthcoming about details of the loan and why Solyndra was chosen.

[Solyndra’s bankruptcy filing today] is about the worst outcome possible for a company that the Department of Energy has touted as a game-changing solar tech company, and which received an unusual amount of government support and attention.

The DOE renewable energy loan guarantee program is now threatened, and probably justifiably so. This will directly impact California’s goal of 33% renewables by 2020 because grid-scale renewable energy projects always have federal loan guarantees, subsidies, tax breaks, etc.

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