Solyndra appeared to be a solar panel company that ended up going bankrupt and firing all its employees without any warning. The White House supported Solyndra in what it was doing for the environment. Obama continues to work for a cleaner environment and healthier planet. In 2009, the government loaned Solyndra $535 million to support one of their projects that would support the construction of a manufacturing plant for the solar panels. It also was supposed to be an opportunity to create jobs.
The company went bankrupt in 2011. They fired all their employees, with no severance pay, and shut down all their operations.
President Obama is still being asked about Solyndra. Obama still supports a healthier, cleaner environment policy. As it turns out, the people involved in Solyndra backed Obama throughout his fundraising. When Obama was elected, he made a push for the loan to be granted.
The price of clean energy subsidies in general have fallen over the years and that makes it possible to sell at more competitive prices. People are more cautious over any big tax breaks now because of the Solyndra scandal. These newer companies are saying the breaks they seek will only apply to the businesses and it will bring in new jobs in an economy that doesn’t have any.
Sources:
- http://en.wikipedia.org/wiki/Solyndra
- http://articles.chicagotribune.com/2011-09-18/news/ct-met-kass-0918-20110918_1_solyndra-loan-guarantee-obama-fundraisers-obama-white-house
- http://www.newsobserver.com/2012/01/28/1812184/clean-energy-subsidies-wane.html
Solar panels can also help save the environment because they don’t produce any air pollution or greenhouse gas emissions. Solar panels provide a clean and green solution to generating power for your home. In many states, you can even participate in a green power program that gives you a certain amount of energy that is 100% generated from renewable sources.