The current project of the Obama Administration`s experiment in throwing away taxpayer dollars on the fantasy of green energy after the Solyndra and Abound debacles. SoloPower closed on a guaranteed government loan of $197 million last August, about the time another solar panel manufacturer, Solyndra, filed for bankruptcy. The failure of Solyndra cost U.S. taxpayers more than a half-billion dollars. The second solar panel maker that received a loan from the Department of Energy, Abound, is also now in bankruptcy. Based in Longmont, Colo., Abound spent $70 million of its green energy loan and next week will auction off its equipment in hopes of paying some of that back, a slight chance indeed!
Saturday, September 29, 2012
SoloPower...More from the Department of Energy's failed loan guarantee program
Posted by Keith at 9:07 PM