Did Solar Panel Funding Disappear Under Obama

President obama exaggerated when defending his administration s approval of a 535 million loan guarantee to solyndra a now defunct solar company. By the time the plant opened in 2015 the increased efficiency of cheap solar panels had already surpassed its technology and today it s obsolete the latest panels can pump out power at a. Abound solar received a 400 million federal loan guarantee but its product was defective producing only a fraction of its intended wattage with solar panels catching on fire.

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Did solar panel funding disappear under obama.

Solyndra was a manufacturer of cylindrical panels of copper indium gallium selenide cigs thin film solar cells based in fremont california although the company was once touted for its unusual technology plummeting silicon prices led to the company s being unable to compete with conventional solar panels made of crystalline silicon. A123 solar received 279 million from taxpayers thanks to president obama s department of energy loan guarantees even after the solyndra bankruptcy and is getting another 500m from obama after a loss of 400m. Here are eight facts about the barack obama solyndra scandal. The manufacturer of thin film solar panels received a 400 million doe stimulus loan guarantee to build two factories one outside kokomo indiana and another outside of denver.

President obama is committed to ensuring that every american family can choose to go solar and to cut their energy bills and that every american community has the tools they need to tackle local air pollution and global climate change. Obama referred to solyndra s loan at an oct. The stimulus funded loan which was originally applied for in 2006 under the bush administration was guaranteed by the department of energy. The obama administration gave solyndra a 535 million loan guarantee to manufacture solar panels but the company had to file for bankruptcy in 2011.

Please click here to view a video on access to solar panels featuring president obama. 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. In 2009 the california based green energy solar panel manufacturer solyndra received a 535 million loan. Solyndra the solar panel manufacturer who took more than 500 million from president obama s stimulus then went bust sticking taxpayers for the loss lied to federal officials to secure the.

The company filed for bankruptcy on september 1 2011.

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