Solyndra scandal

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The Solyndra scandal began in September 2011. [1] Solyndra was a thin film solar cell company that began in 2008 and received a loan guarantee of approximately $535,000,000 as part of the green jobs portion of the Obama stimulus bill in early 2009. The company used this easy money to build a state of the art factory which they continued to "improve" on up until within 1 week of filing for bankruptcy protection. Before the plant was constructed a Chinese firm had begun producing a similar thin film solar product at a lower price than that projected for Solyndra's product.[2] Divorcing the financing of projects from the market reality of the sector enables these sorts of mishaps and Solyndra is not the only green jobs stimulus firm affected.[3] The plant has had difficulty finding a buyer [4] presumably because of the futility of producing an inferior product while making a profit.

See Also


  • Solyndra scandal
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References

  1. Google trends: Solyndra, last 30 days retrieved Sept 17th 2011
  2. Ex-Solyndra employee everyone knew the plant wouldn't work Breitbart TV, retrieved Sept 17th 2011
  3. Solyndra Not Sole Firm to Hit Rock Bottom Despite Stimulus Funding FOX News, retrieved Sept 17th 2011
  4. Solyndra says needs more time to find buyersReuters news organization, retrieved Sept 17th 2011


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