Solyndra Scandal

Their Proven Performance/ Technology and Products

As of today, 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 dieseline (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.

Lightweight: Low Distributed Load of 2.8 lbs. per Square Foot

The Solyndra system is extremely lightweight and modules are spaced within the panel frame offering unique airflow properties. This eliminates the need for expensive mounting hardware and ballast. The low roof weight is ideal for older buildings and “value-engineered buildings” not designed to carry a heavy rooftop load, and often Solyndra is the only solar solution that works for these installations.

“Solyndra Scandal”. What went wrong? 

President Obama praised the company, Solyndra, for its advanced technology during a visit in 2010.

However, back in 2011, Solyndra said its business had run into trouble because of difficult global business conditions, including slowing demand for solar panels, and stiff competition.

Solyndra filed a bankruptcy protection on August 31 2011, laying off 1,100 employees, and shutting down all its operations and manufacturing.

In the case of Solyndra, some experts said that regardless of the competition, the company’s unique designs, which were expensive to manufacture, were to blame for its failure.

The government calculated premiums for the guarantees, essentially a loan fee based on the risk of default, but it picks up the cost of the premiums for the companies in the subsidy program. By that yardstick, it spent $2.4 billion in credit subsidies for the program.

Solyndra’s troubles have been growing for some time. Republican budget-cutters in Congress have viewed it as a model of poor government investment.

Solyndra was promised loans of up to $535 million under a guarantee program authorized by Congress as part of the stimulus package. The Energy Department has made more than 40 promises of guarantees, of which Solyndra was the first. It has committed $18 billion in guarantees and expects to allocate several billion dollars more by the time the program finishes at the end of September.

However, on September 2011, Soyndr was deeply investigated by the FBI.  More importantly, federal agents visited the homes of the founder of Sylandra and the company’s CEO, they examined computer files and documents.

Policymakers absolutely must study what went wrong at Solyndra in business terms, but it is also imperative that they not overlook the strengths and opportunities of the emerging “clean” economy, lest America fall further behind in this crucial sector of the global economy.

Works Cited

http://www.huffingtonpost.com/mark-muro/solyndra-solar-bankruptcy-solar-power-_b_947046.html

http://www.nytimes.com/2011/09/01/business/energy-environment/solyndra-solar-firm-aided-by-federal-loans-shuts-doors.html?pagewanted=all

http://www.solyndra.com/technology-products/