“Solyndra’s cylindrical design offers proven reliability and superior performance. Each panel is made up of 40 individual modules, wired in parallel for high current, which capture sunlight across a 360-degree photovoltaic surface capable of converting direct, diffuse and reflected sunlight into electricity. Using innovative cylindrical copper indium gallium diselenide (CIGS modules) and thin-film technology, Solyndra systems are designed to be able to provide the lowest system installation costs on a per watt basis for the commercial rooftop market. More than 1000 Solyndra systems are installed around the world, representing nearly 100 Megawatts.” www.Solyndra.com
Solyndra was a manufacturer of cylindrical panels of 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 being unable to compete with more conventional solar panels. On September 1, 2011, the company ceased all business activity, filed for Chapter 11 bankruptcy, and laid off all employees. The company is also being sued by employees who were abruptly laid off.
Last year, the US President visited the Solyndra facility. In 2009 Solyndra received $531 Million dollars as Federal loan guarantees, to expand production of cutting edge solar panels, government promise to create millions as so called “green jobs”. A few months ago Solyndra declared bankruptcy laying off ll 1,100 workers. The FBI then initiated an investigation to see if whether the government was miss-led. Some critics believe that subsidies from government will always turn corrupt do to political interests. “Politicians are not looking for the best economic opportunities, they are looking to get reelected, that means they will direct subsidies where they will scratch the back of those who will support the politicians campaigns. Government subsidies are ethically unacceptable.” Economic expert point of view.
Energy Subsidies/ year
Renewable Fuels $6 Billion
Ethanol $6 Billion
Coal $8 Billion
Nuclear $9 Billion
Oil and Gas $41 Billion
As the numbers shown above demonstrate, it is non-sense for the people that are complaining about the money in subsidies that goes to Renewable Fuels, since Oil and Gas subsidies are wave above the 6 Billion dollars.
Subsidies make sense when the government wants to stimulate a new field in the market, in the case of Renewable Fuel that makes a lot of sense, but who really thinks oil companies need incentives to generate profit? Oil companies are the most profitable companies in the world.
Work Cited
http://en.wikipedia.org/wiki/Solyndra
http://www.solyndra.com/
http://topics.nytimes.com/top/news/business/companies/solyndra/index.html
