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Home > Uncategorized > Your tax dollars - $535 million for 1100 job losses in under 2 years

Your tax dollars - $535 million for 1100 job losses in under 2 years

August 31st, 2011

Solyndra Files for Bankruptcy - Aug.  2011

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Solyndra has been both a symbol of the promise and peril of alternative energy in its nascent stage of development.

The company not only received the backing of high-profile venture capitalists, but has been a favorite of the Obama administration and Department of Energy loan funding.

Solyndra received a $535 million loan guarantee through the Department of Energy’s 1705 loan guarantee program in September 2009, which was the first such loan guarantee provided by the federal government.

Solyndra has been prominently featured in the argument from the government that green energy creates jobs.

President Obama even appeared for a photo op on the floor of a Solyndra plant.

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