The Solyndra bankruptcy is not symptomatic

The previous administration should have acted on the warning flags of the companies finances nor that there wasn't the market here that is needed and should already have existed, or helping them in order to gain favored listing, instead of keeping it around for the two years previous to the ok on backing, that ok was based on the fact they had a great product though costly to produce, and not because of wages, but cheaper to install and maintain. And the growth we have is still way to small and slow, while those that have kept the brakes locked, for some forty years, try and maintain same especially with their political funding and connections from. we were the leaders in implementation of and the innovations had already started to happen way back then.

Solyndra Bankruptcy Unlikely to Hamper Gov’t Investment In Green Jobs

Sep 19, 2011 - Two weeks ago an American solar company declared bankruptcy. It was one of three U.S. solar companies to go under in a month, but this one was special. Solyndra, the solar panel manufacturer, risked losing as much as $528 million in taxpayer money the day it shuttered its Freemont, Calif., factory and is now calling into question the integrity of the government’s loan guarantee program for renewable energies.

But while the evidence continues to prove that gambling millions in taxpayer money on a company that made just $3 for a product that took $7 to produce was rather unwise, it doesn’t look like the one bad apple has ruined the whole orchard of green energy investments.

“I think renewable energy remains one of the best long-term investments one can make as long as you’re careful to pick your companies,” said Garvin Jabusch, chief investment officer at Green Alpha Advisers, which focuses on environmentally sustainable investments. “If some companies go bankrupt, this is just normal capitalism.”

The Solyndra bankruptcy has inspired an investigation from the House Energy Committee, whose chairman Fred Upton (R-Mich.) said it was a “classic case of fraud and abuse and waste.”

But the Energy Department argues the bankruptcy is not emblematic of the entire loan program. The solar company loan represents about 1.3 percent of the entire loan guarantee program, which was a $2.4 billion initiative created under the 2009 Recovery Act to support the new green technology investments, which can be risky. Under the program, the government does not actually pay out any money, but guarantees that if the company fails, Treasury will repay the private loan. read more>>>