Chris Gronet founded what would become Solyndra in May 2005.In 2006, Solyndra began deploying demonstration systems globally. The company stated the total count was 14 systems and that these systems were each instrumented with sensitive , wind speed, temperature, andmeasurement devices to aid in the development of energy yield forecasting software tools. T.
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The federal government lost hundreds of millions of dollars when solar panel maker Solyndra and car company Fisker went bankrupt. Now the loan program has made up for early losses and is in the black.
Solar start-up Solyndra LLC, succumbing to pressure from lower-cost Chinese rivals, said it has suspended operations and plans to file for bankruptcy, 15 months after President Barack Obama
WASHINGTON - A major donor to President Obama discussed with White House officials a solar energy company that received a half-billion dollar federal loan and later went bankrupt, newly released
CALSSA executive director Bernadette Del Chiaro released the following statement on the news of SunPower''s bankruptcy filing: A giant California solar company has fallen amidst widespread disruption brought about by state regulatory policies that disproportionately favor monopoly utilities like PG&E at the expense of solar businesses,
Since the failure of solar-panel company Solyndra, President Obama''s $80 billion clean-technology program has begun to look like a political liability. A company that had won a $249 million grant files for bankruptcy, reigniting criticism of stimulus program.
In the case of Solyndra, according to news report s, the company had drawn down all but about $8 million of its total loan allotment at the time that it announced it would file for bankruptcy. It''s not clear that taxpayers will get any of that money back.
The company requested courts approve the deal by late September. SunPower was one of the longest-running solar businesses in the United States, formed in 1985. The company spun off its manufacturing business in 2020 to focus more squarely on rooftop solar as demand surged.
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
The owner of a big Nevada solar-thermal power plant that received $737 million in loans from the U.S. Department of Energy filed for bankruptcy on Thursday, according to a court filing
A former facility for a Colorado-based solar panel maker that received a $400 million loan guarantee from the Obama administration and eventually went bankrupt last year will cost millions to
Bankrupt solar tech company produced at least $137,000 for Obama in ''08 | Bankrupt solar company with fed backing has cozy ties to Obama administration. News Politics Obama cited the company as a model of success for his highly touted green-energy industry initiative. In fact, the Obama administration fast-tracked the solar startup''s $535
FREMONT, CA - MAY 31: Repubican presidential candidate and former Massachusetts Gov. Mitt Romney [+] speaks during news conference in front the shuttered Solyndra solar power company''s manufacturing facility May 31, 2012 in Fremont, California. The company filed for bankruptcy in 2011 after receiving $535 million in federal loan money.
Sept. 1, 2011 — -- Prominent Republican members of the House energy committee accused the Obama administration of "wasting" more than half a billion dollars in taxpayer money by making a
Energy Department officials were warned that their plan to help a failing solar company by restructuring its $535 million federal loan could violate the law and should be cleared with the Justice
A California solar panel manufacturer which President Obama had made the poster child of his effort to expand the green economy and grow jobs has filed for bankruptcy, the company announced today.
A total of five have gone bankrupt, according to the House Committee on Energy and Commerce. All of the failed companies that the Committee identified came from just two programs that received significant dollar amounts from the Department of Energy. Those two programs funded 63 firms. The other 58 are still in business.
Chris Gronet founded what would become Solyndra in May 2005. In 2006, Solyndra began deploying demonstration systems globally. The company stated the total count was 14 systems and that these systems were each instrumented with sensitive radiation, wind speed, temperature, and humidity measurement devices to aid in the development of energy yield forecasting software tools. T
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
Here''s Our Guide on Solyndra. The bankruptcy of solar firm Solyndra has raised concerns that the Obama administration shouldn''t have loaned the company money via a stimulus program. We break it all down. This post has been updated.
The company''s bankruptcy became its own example of Obama''s stimulus – taxpayer dollars going to pie-in-the-sky companies with the right political philosophy. On Friday, The Wall Street Journal''s editorial board wrote about another failure from the Obama era, this one costing taxpayers as much as $510 million. The company, Tonopah Solar
SunPower, a major rooftop solar company, filed for Chapter 11 bankruptcy on Monday, the company announced. SunPower filed for bankruptcy in Delaware after a string of corporate struggles, changes
On Wednesday, the bankruptcy of a solar power company in California with political ties to the Obama administration appeared to be a story about the difficulties of nurturing green businesses in a
SunPower, which started as a pioneering manufacturer of high-performance solar panels and grew into one of the nation''s top solar companies, filed for Chapter 11 bankruptcy protection on August 5.. The company weathered the ebb and flow of an emerging industry, ever-changing state and national policies, multiple recessions, a public IPO, an
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 exaggerated when defending his administration''s approval of a $535 million loan guarantee to Solyndra, a now-defunct solar company. Obama referred to Solyndra''s loan at an Oct. 6 press conference as "a loan guarantee program that predates me." That''s not accurate.
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