DOE’s Support for Clean Tech Sector Coming Under Fire Following Solyndra Failure
The collapse of solar panel manufacturer Solyndra has raised serious doubts about the legitimacy of the US Department of Energy’s (DOE) process for evaluating loan guarantees and its ability to successfully spend the remaining $10 billion earmarked to support clean technologies, observers said.
Fremont, California-based Solyndra, which designs and manufactures solar photovoltaic systems, filed for Chapter 11 bankruptcy on 6 September after failing to secure additional funds from the private sector to continue operations. Two days later, the Federal Bureau of Investigation raided the company’s headquarters and the homes of several Solyndra executives, for reasons as yet undisclosed.
In 2009, the DOE
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Fremont, California-based Solyndra, which designs and manufactures solar photovoltaic systems, filed for Chapter 11 bankruptcy on 6 September after failing to secure additional funds from the private sector to continue operations. Two days later, the Federal Bureau of Investigation raided the company’s headquarters and the homes of several Solyndra executives, for reasons as yet undisclosed.
In 2009, the DOE
Read more...
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