Senator Byron Dorgan (D–ND) told Greenwire (subscription required) that an energy efficiency bill that passed through the Senate Energy and Natural Resources Committee would be a necessary “first step” to more federal efforts to overhaul energy policy. The legislation, introduced by Senators Jeanne Shaheen (D–NH) and Rob Portman (R–OH), contains …
Opponents have called it “another Solyndra waiting to happen.” An estimated $2.6 billion offshore wind project near Massachusetts could be awarded a $350 million Department of Energy (DOE) loan guarantee and a 30 percent federal tax credit, according to recent reports. The much beleaguered 468 megawatt, 130 turbine Cape Wind …
Despite billions of dollars in unused loan authority remaining under the Department of Energy’s (DOE) Loan Programs Office, negative publicity surrounding the loan guarantee programs (which offer taxpayer dollars to government-approved companies) has tampered with applications, according to a new Government Accountability Office (GAO) report. More than $51 billion in …
As Part One of this series explained, bankrupt or not, Solyndra continues to dig deeper into taxpayers’ wallets. This entry examines two contracts the government awarded to the law firm Morrison & Foerster to assist in the cleanup of the failed Solyndra experiment. These examples reveal an alarming trend, one …
Claims that Chinese solar subsidies killed Abound Solar—and not faulty solar panels made by the company itself—are beginning to wear as thin as the solar panels they produced. A Denver news channel’s documents characterized the company’s solar panels as “low performance” and suffering from “catastrophic failures.” A Daily Caller report …
Abound Solar, the now-bankrupt solar company and recipient of a $400 million Department of Energy loan guarantee, faces a three-pronged investigation from Weld County, CO, for alleged securities and consumer fraud, along with misleading financial institutions. The Denver Post reports: The securities-fraud investigation stems from allegations that “officials at Abound …
(Photo credit: Mary MacFarlane) A Colorado-based free-market think tank located in Denver challenged the state’s paper of record when it launched a media blitz that included a billboard (seen above) accusing the media outlet of ignoring one of the state’s largest green energy failures this year. Jon Caldara, president of …
A123, recipient of a $249 million Department of Energy manufacturing grant, warned of impending debt default and cash problems that forced the company to seek bankruptcy protection. With 14 straight quarterly losses–nearly $83 million in 2nd Quarter 2012 and $125 million in the previous quarter, on top of $258 million …
Bankrupt solar module manufacturer Abound Solar, recipient of a Department of Energy loan guarantee of $400 million, and the subject of an official investigation in its home state of Colorado, now faces additional scrutiny in the form of a document probe from the House Energy and Commerce Committee. The letter …
Bankrupt DOE Loan Recipient Abound Solar Under Investigation, Panels Suffered “Catastrophic Failure”
Abound Solar, a Department of Energy $400 million loan guarantee recipient that went bankrupt earlier this year, is under investigation by officials in Weld County, Colorado. The company, which received nearly $70 million in loan funding before payments were cut off by DOE in 2011, also received a $100,000 tax …
