Did Solar Panel Funding Disappear Under Obama

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.

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. 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. In 2009 the california based green energy solar panel manufacturer solyndra received a 535 million loan.

The stimulus funded loan which was originally applied for in 2006 under the bush administration was guaranteed by the department of energy. 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. Obama referred to solyndra s loan at an oct. The company filed for bankruptcy on september 1 2011.

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. 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. 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.

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.