Because of all of my time living under a rock I had never heard of the Solyndra scandal so this topic required some research.
As it turns out Solyndra, a manufacturer of solar panels, was formed in 2005 and is known now for the scandal that occurred after it received government subsidies and went bankrupt anyway, laying off many workers in the process.
The following timeline found on The Washington Post website shows a clear progression of events.
2005
Solyndra is formed.
Dec. 2006
Solyndra applies for government-guaranteed loan under Bush administration.
Feb. 2009
Solyndra CEO suggests energy secretary help showcase company.
March 2009
Solyndra wins conditional loan under DOE program.
July 2009
DOE staffer criticizes Chu for implying Solyndra has already won loan.
Aug. 2009
White House aide pushes OMB for final decision on Solyndra loan.
Sept. 2009
OMB approves loan; Biden and Chu appear at groundbreaking three days later.
March 2010
Auditors raise concerns about whether Solyndra can continue operating.
March 24
Obama donor warns White House about president visiting Solyndra.
March 26
Obama visits Solyndra, touts it as model of clean tech and job creation.
Dec. 2010
Solyndra executives learn that the company is out of cash.
Jan. 2011
OMB staffers warn Solyndra rescue with public money is politically “risky”.
Jan. 2011
Solyndra execs confide to administration that they are on brink of liquidation.
Feb. 2011
DOE helps Solyndra with refinancing; investors put in an additional $75M.
Aug. 31, 2011
Solyndra shuts down, lays off most workers.
Solyndra claimed that their solar panels were unique in design;”The panels were made of racks of cylindrical tubes (also called tubular solar panels), as opposed to traditional flat panels. Solyndra rolled its copper-indium-gallium-diselenide (CIGS) thin films into a cylindrical shape and placed 40 of them in each 1-meter-by-2-meter panel. The cylindrical solar panels can absorb energy from any direction (direct, indirect, and reflected light) (Wikipedia) Sounds pretty cool right? They look cool too!
The solar panels were also said to have other positive qualities including the need for less “anchorage” than average solar panels because they allowed the wind to blow through them thereby causing less resistance.They also claimed that the solar panels could generate more electricity than other solar panels and up to 20% more when placed on white rooftops instead of black. This is advantageous environmentally in two ways as , not only if Solyndra’s claims were true would this produce more environmentally friendly energy but white rooftops act as glaciers, cooling the planet. However, now this fact is being debated, ( http://blogs.discovermagazine.com/80beats/2011/10/20/white-roofs-may-actually-add-to-global-warming/ ) and some studies suggest white roofing may increase overall global warming.
The Solar Panels themselves sound pretty awesome though and if the company hadn’t gone bankrupt this technology could have been a great help towards furthering renewable energy. So how exactly did this all turn into a “scandal” ? Was Solyndra having an affair with Hydro behind solar energy’s back?
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http://www.youtube.com/watch?feature=player_detailpage&v=wGBc7ROxKi4
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This video states that the loan guaranteed to Solyndra under the Bush administration was pushed through hurriedly by the Obama administration because one of Obama’s major campaign backers was also an investor in Solyndra . (Really guys, well lets Bring up Bush’s oil investments shall we? )
Anyway, it also states that Solyndra was granted lower interest rates. the company went bankrupt and underwent FBI investigation. It makes sure that we know that 1,100 employees were laid off and taxpayers may lose half a billion dollars. All this may be true but this video is also clearly Republican propaganda.
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The flip side of the coin is well expressed by Susan Kramer in her article here, http://www.greenprophet.com/2011/09/despite-solyndra-bankruptcy-solar-grew-69-from-obama-policy/
She says that
“The US Republican party has seized on the half billion dollar bankruptcy of Solyndra to prove that green jobs are some sort of scam, and green power doesn’t work. They’ve seized on one bankruptcy to prove that all clean tech companies are doomed to failure, and government shouldn’t invest in them. But Californa’s Solyndra was just one innovative clean tech investment among $90 billion worth of clean tech investments by the Department of Energy under the Obama administration’s Recovery Act.
The other 99% are doing fine. And the resulting solar job growth, at 69%, is the one bright spark in the dismal US economy, as we’ve covered here. ( BrightSource Solar Project to Make More Energy than Fossil Fuel Plants) ”
She goes on to list some specific stats to argue this point.
- The solar industry now employs more than 100,000 Americans, more than twice as many as in 2009. They work at more than 5,000 companies, the vast majority being small businesses, in all 50 states.
- The U.S. solar industry grew by 69% in the past year, making it one of the fastest growing sectors in the U.S. economy.
- Since the beginning of 2010, the price of solar panels has dropped by 30%, and costs continue to fall making solar an even more viable choice for residential and business customers.
- The U.S. was a net exporter of solar products in 2010 by $2 billion. We were even a net exporter to China.
- Solar power in the U.S. now exceeds 3,100 megawatts (MW), enough to power more than 630,000 homes.
- Continued industry growth enhances our energy security and diversifies our domestic energy portfolio.
This is the proof in the pudding as they say. Solyndra was just one company funded by the Obama administration and one failure is hardly enough to claim that these clean energy subsidies are a bad idea. I believe that in the long run, someday when the clouds part, this will become much clearer for many than it is today.
