Taxes wasted.... $535M

[katie]

In a blow to the Obama administration's efforts to create green jobs, solar-cell maker Solyndra announced Wednesday that it will close its remaining Fremont factory, lay off its 1,100 employees and file for bankruptcy.

The news marked an abrupt end for a company once considered among the most innovative in a fast-changing industry. The bankruptcy also represents a high-profile failure for a federal stimulus program that gives loan guarantees to green-tech manufacturers.

Solyndra was the first company to win one of the guarantees, receiving $535 million in 2009 to build its second factory in Fremont less than a mile from the company's original plant. Both President Obama and former Gov. Arnold Schwarzenegger toured the new plant, citing it as a symbol of the nation's economic recovery and commitment to a green economy.



Read more: http://www.sfgate.com/cgi-bin/article.c ... z1WiSCEDkb


ALL IMPORTS SHOULD HAVE BEEN PUT ON HOLD THAT WOULD BE COMPETING WITH STIMULUS FUNDED BUSINESS, JMO What cracked me up in this article, is they said that the bankruptcy may not cover the $535 million and the taxpayer may be stuck with the debt.... shakin my head... hellloooo, we already are...

[katie]

Navy not requiring U.S.-made solar for $500 million Hawaiian contract


Chris Meehan


Sep 07, 2011


The U.S. military forces are adopting more and more solar. Recently, for instance, the the Navy’s Naval Facilities Engineering Command (NAVFAC) Pacific signed a contract valued at up to $500 million to purchase solar power from installations that private contractors will install on naval facilities in Hawaii.

Meanwhile, the Army is creating an Energy Initiatives Office Task force to convert to 25 percent renewable energy by 2025. And the Air Force had one of the largest installations in the country, the 14.2-megawatt photovoltaic installation operating at Nellis Air Force Base in California (the 48-megawatt Copper Mountain facility in Nevada is the largest—for now).

A Clean Energy Authority reader asked us a bit more about the Navy’s recent contract in Hawaii. He inquired if the contract had a requirement to purchased U.S.-manufactured solar panels.

“After all, it’s a government-funded base, funded with our tax dollars,” he wrote.

No go. It turns out that under this contract, the contractors are not required to use products made in the U.S.


http://www.cleanenergyauthority.com/sol ... ls-090711/


Now I ask you folks... does this make any sense to you???? It sure doesn't to a concerned "conservative"!

[E_]

[Nervous Wreck]

"Now I ask you folks... does this make any sense to you"????

Katie, nothing the government does makes any sense! This kind of BS really gets my dander up!

[re3too]

Katie, nothing the government does makes any sense! This kind of BS really gets my dander up!

x200!

[katie]

ADD ANOTHER COOL $43M TO THAT $535M!!!! You just keep on creating those jobs Mr. President....


Second Energy Department-backed company goes bankrupt
By Ben Geman - 10/31/11 08:04 AM ET

A Massachusetts company that received a $43 million Energy Department loan guarantee last year filed for bankruptcy Sunday, a step certain to fuel criticism of federal green energy financing in the wake of the solar company Solyndra’s collapse.

Beacon Power Corp., which develops energy storage systems, filed for bankruptcy protection in the U.S. Bankruptcy Court in Delaware.

Beacon Power had received federal loan guarantee to help build an energy storage plant in Stephentown, New York that began operating in January. The Treasury Department’s Federal Financing Bank provided the loan.

Beacon sought bankruptcy protection two days after the White House ordered an independent 60-day evaluation of the Energy Department's loan programs aimed at ensuring effective management and monitoring.

http://thehill.com/blogs/e2-wire/e2-wir ... s-bankrupt

[E_]

[Nervous Wreck]

Time...(no, past time) to take OUT the dirty laundry!