Despite the extraordinary failures of his green energy investment program, President Obama recently touted his efforts at a solar plant in Colorado.. The plant cost $141 million to build and was financed with $42 million in federal tax credits and $12 million in tax rebate commitments from Nevada.; The plant created 300 part-time construction jobs, but only
Solar panel start-up Solyndra was the first company to get government-backed loans from ARRA after its passage, collecting $535 million and receiving a $25 million tax break from California''s
The solar industry experienced exponential growth over the last decade as costs fell and favorable policies helped drive mass adoption.. However, 2024 has brought immense challenges, with higher interest rates, tighter financing, and adverse policy shifts in key states contributing to over 100 solar bankruptcies based on our industry data, a number unseen
Solyndra was the first company to get federal loan guarantees under a program that was created in 2005 and expanded by President Barack Obama''s 2009 economic stimulus package. The company''s failure soon after receiving the loan guarantee likely will cost taxpayers more than $500 million.
President Obama toured Solyndra, a solar panel manufacturer in Fremont, Calif., in May 2010. There were signs that the company''s business plan was imploding. Credit... Luke Sharrett/The New York Times
Former Obama-era EPA Administrator Gina McCarthy, now the Biden White House climate adviser, is pushing Congress to include a federal clean electricity standard (CES) to drive investment in
The cost of rooftop solar has declined by 54 percent, and as of the beginning of 2016, one million households had solar panels. Finally, utility-scale solar costs have been cut by 64 percent, powering two million homes. There is no denying that solar and wind are booming like never before under President Obama''s leadership.
FILE--In this May 26, 2010 file photo, President Barack Obama, with Solyndra Chief Executive Officer Chris Gronet, looks at a solar panel, during a tour of Solyndra, Inc., a solar panel
Pat Stryker, a wealthy philanthropist whose Bohemian Companies has significant investment in Abound Solar, donated substantial sums to federal Democratic candidates and causes and to President Obama''s two campaigns for the White House and to his Inaugural Committee, and had visited the White House in October 2009.
Since President Obama took office, solar electricity generation has increased 30 fold and solar jobs are growing 12 times faster than the rest of the economy. representatives from solar companies, NGOs, and state and community leaders —which works to unlock access to solar for the nearly 50 percent of households and businesses that are
Cronyism was believed to be a factor in the Abound loan guarantee. Wealthy philanthropist Pat Stryker, whose Bohemian Companies had significant investment in Abound, was a generous donor to President Obama as well as to other Democrats. First Solar was one of the biggest recipients from DOE''s loan guarantee program garnering over $3 billion.
U.S. Senator John Barrasso, ranking member of the Senate Committee on Energy and Natural Resources, released a report titled, "The Solyndra Syndrome & the Green Stimulus Delusion", which examines the parallels between the failed green energy stimulus policies of the Obama administration and the policy priorities of the Biden administration.Many
A California solar-panel manufacturer once touted by President Obama as a beneficiary of his administration''s economic policies -- as well as a half-billion-dollar federal loan -- is laying off
That same month, Nancy Pfund, a managing partner of a venture capital firm that has holdings in several energy companies backed by the Obama program, told the Associated Press: "It''s very hard to get commercial-scale financing, especially for
CQ Newsmaker Transcripts, "David Gregory Hosts NBC''s ''Meet the Press,''" Oct. 30, 2011 E-mail interviews with White House spokesman Eric Schultz, Nov. 15-16, 2011 PolitiFact Florida, "Solyndra ad
The manufacturer of rooftop solar panels opened its doors in 2005, and in 2009 became the first recipient of an Obama administration energy loan guarantee – a $535 million federal commitment that helped minimize the risk to venture capital firms backing the solar start-up. Obama visited the factory last year to herald its future.
The bankruptcy of solar energy company Solyndra is being investigated by the FBI. The company received government loans and President Obama''s endorsement in 2009. During a House hearing Wednesday
In December 2008, during President-elect Obama''s transition, the Center for American Progress proposed the "Top 10 Energy and Environment Priorities for the Obama Administration and 111th
Former Obama-era EPA Administrator Gina McCarthy, now the Biden White House climate adviser, is pushing Congress to include a federal clean electricity standard (CES) to drive investment in
A blue-black field of 5.2 million solar panels tilted toward the Arizona sun might just be the Hoover Dam project of the Great Recession. The Agua Caliente Solar Power Project hosts nearly 300
The most infamous of these was, of course, Solyndra, the solar energy company that received $530 million of taxpayer handouts and was touted many times by Obama, and Vice President Joe Biden, as
CQ Transcriptwire, Former Gov. Mitt Romney, R-Mass., Presidential Candidate, Delivers Remarks At Americans For Prosperity Foundation Summit, Nov. 4, 2011 Americans for Prosperity, Defending the
The 2009 stimulus package provided an estimated $51 billion for renewable energy projects, including funding for failed solar energy companies like Solyndra and Abound Solar. The Obama Administration gave Solyndra a $535 million loan guarantee to manufacture solar panels, but the company had to file for bankruptcy in 2011. Abound Solar received
The Obama administration committed more than $500 million in taxpayer money to Solyndra, a maker of solar power panels, despite repeated red flags about the company''s viability, NBC News'' Lisa
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