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    Solyndra to Auction Assets, But Taxpayers Won't See a Dime

    As part of its bankruptcy proceedings, defunct solar company Solyndra will auction off thousands of items from its California production facility on Nov. 2 and 3. But taxpayers won’t see a dime of the proceeds, due to the Energy Department’s decision to subordinate taxpayers to Solyndra’s private financiers in repayment … More

    Government Backing for Solar Firms Remains an Economic Drag

    The economic damage inherent in federal backing for solar power companies extends beyond Solyndra-style bankruptcies, in which taxpayers pour money into unprofitable but politically popular ventures. Even where government-backed companies stay afloat, federal intervention directs resources to less productive and profitable activities. Some solar power companies based in California are … More

    Solyndra Poured Money Into Lobbying While It Struggled Financially

    Internal communications and testimonials from former Solyndra employees provide a stunning window into the consequences of federal support for private companies. Political backing, in short, made the company sloppy, wasteful, and spurred it to focus more and more resources on securing federal handouts – even while the company’s everyday business … More

    Email Shows Solyndra Violated Pledge to Answer Committee's Questions

    Solyndra executives scheduled to testify before a House committee on Friday were likely expecting some tough questions. In general, Republicans will wonder whether their political ties got them favorable treatment from the Energy Department. Democrats will want to know why the company said it was financially healthy mere weeks before … More

    Solyndra's Legal Team: Five Attorneys at $2,550 Per Hour

    Solyndra has hired a team of five high-powered attorneys to help get it through its bankruptcy proceedings, according to documentation the company has filed in court (embedded below). Their firm, McDermott Will & Emery, also represented the company before it filed for bankruptcy protection earlier this month. Some of the … More

    Congressional Investigator: More Solar Bankruptcies to Come

    A top congressional investigator said on Tuesday that he believes more companies that benefitted from the stimulus bill’s renewable energy loan guarantee program will go bankrupt before all allotted funds are spent. The program, which guaranteed a $535 million loan to Solyndra before the company declared bankruptcy last week, still … More

    Politically Connected Solar Firm Goes Under Despite Federal Support

    Major donors to President Obama have received favorable treatment throughout his administration. Today’s news that solar company Solyndra is going bankrupt demonstrates the consequences of that apparent cronyism. The company’s demise is likely to cost taxpayers hundreds of millions of dollars. Solyndra suspended operations Wednesday and will soon file for … More

    One Near-Fatal Flaw to Obama’s Energy and Electric Car Plans: Snowstorms

    Last week, The Washington Post pointed out one near-fatal flaw to Obama’s plans for subsidizing green energy and electric cars: snowstorms. On Wednesday a snowstorm hit D.C. commuters harder than usual, causing gridlock on the road and dragging a normally 20-minute commute into, in some cases, over six hours as … More

    White House Solar Installation Symbolic of Solar Energy Push

    President Obama is channeling his inner Jimmy Carter again. In 1979, President Carter had solar panels installed on the roof of the White House, and they were taken down in the Reagan Administration during roof repairs. Today, the White House announced that that Obama Administration will use taxpayer dollars to … More

    The Stimulus Solar Boondoggle

    According to a press release, Energy Secretary Steven Chu says that the billions of dollars in federal stimulus money directed toward solar-power will cut solar power costs in half by 2015. It’s a grand sounding prediction, but his own Energy Information Agency projects that electricity from solar cells will cost … More