Treasury probes $528M loan to bankrupt solar firm

Treasury probes $528M loan to bankrupt solar firm

news.yahoo.com

WASHINGTON (AP) — The Treasury Department's inspector general has opened an investigation of a $528 million government loan to Solyndra Inc., the now-bankrupt solar panel manufacturer once cited as a model of the Obama administration's clean energy program.

(visit the link for the full news article)

So I guess this was one of those "Shovel Ready" projects ???

The Obama administration is moving to finalize as many as 15 loan guarantees for renewable energy companies before a federal stimulus program ends on Sept. 30.


wonder how many more of these will be defaulted too??

The House energy committee released documents Wednesday that appeared to show senior staff at the White House Office of Management and Budget chafing about having to conduct "rushed approvals" of a loan guarantee for Solyndra

why does this sound fishy to me???
Solyndra once was the showcase for President Barack Obama's efforts to increase investment in renewable energy and to generate jobs... lets see that makes new job creation 0... good plan Obama



news.yahoo.com
(visit the link for the full news article)

Solyndra Employee: "Everyone Knew The Plant Wouldn't Work



Start with the employees firs before management......

reply to post by DaddyBare


In my cynical world the answer to the question: "Why does this sound fishy to me?" Goes something like this:

This sounds fishy because there is no aspect of alternative energy that is either "shovel-ready" or "operationally developed" at the industrial level - in our country.

This is not so because of the technology, but because of the business model that will not accept competition with the entrenched Energy Cartel that commands disproportionate power within the political bodies that virtually monopolize the government, as well as the financial institutions that control the economy in the United States (among other nations.)

This fact is so irrevocable, that any effort to institute a new method of energy production that does not explicitly either rely on, or incorporate the existing cabal of energy concerns, will be made to appear a losing proposition. Industrial or political sabotage are very handy tools which will be made use of the closer to fruition any change comes.

For those who doubt this consider.... solar energy... solar panels... key component - silicone. Source - sand. ... "But solar energy is too expensive to implement!" Why?.... is sand expensive? In short supply? Or is it that the technology holders are pricing the technology out of reach?..... and why would they do that? Certainly not to benefit mankind... certainly not to avoid business.... certainly not to protect fossil fuel money which they already control.......

You can't put a meter on the sun... that's why.

reply to post by Maxmars


Well said! You have not only hit the nail on the head I believe you finished the house.

They will never give us free energy or anything close to it. We have to accomplish this ourselves and you can bet they will fight us every step of the way. I'm still convinced Hydrogen gas is very viable source of alternate energy but like the sun you can't meter the water when it occasionally falls out of the sky.

reply to post by Maxmars


You are of course right in your assumptions...

but what really bugs me is they have convinced millions of young men and women to pursue new carriers in alt energy when it's implementation is still decades away....

sighs....

so when was it we became so Jaded???

Clean energy will not be implemented as a standard way of supplying our nations until the current energy big wigs figure out how they can make money off of it. Wind and Sunlight can't be sold, hence it is not a profitable enterprise unlike fossil fuels. The reoccuring avoidance and unwillingness to adopt clean technology and clean energy is another example of how the greed of a few is holding back humanity.

Wind and sunlight can't be sold??

Tell that to the various nations around the world producicing more and more of it quite successfully!

I'm disappointed by the post above that says sand is cheap therefore solar power should be too - that is simplistic - making solar grade silicon is not jsut a matter of melting down some sand. And hte more efficient silicon structures are more expensive to make - the difference can be as much as 70% of output - ie the more expensive monocrystalline silicon can have efficiency as high as 17%, whereas teh much cheaper multcrustalline ican only get about 10%.

There is plenty of money to be made from alternative energies.......but they are simply still too inefficient, too expensive, and with too little retail infrastructure around to support them.

But all that is changing....slowly.

If you really want to use alternative power you can - it's not difficult - you just have to pay the price and wait until someone can fit you out for it!

reply to post by Aloysius the Gaul


My point was that once a system is created where clean energies (for example wind and solar) are established as a nations main source of energy there are no profits to be made from supplying traditional 'fuels', unlike fossil fuels which rely on continued consumption. Obviously the swtich to clean energy is costly and requires some significant central planning but it could be done and it could save money in the long run.

reply to post by Xcathdra


We need a few more employees to blow the whistle on Solyndra.
--------------
They did everything wrong.
Solyndra management found the most expensive area in California to build solar panels.
You can buy their cylinder solar panel online right now.

Using information from the Solyndra December filing -
Solyndra made solar panels for $6.29 per watt
Solyndra sold those panels for $3.29 per watt !

The industry norm was $1.75 per watt !
----------
Want to cut costs???? Try making them in a less expensive industrial park in Texas!

Existing thread here:
www.abovetopsecret.com...



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