Wednesday, April 18, 2012

A $2 Billion Solar Mistake — From the Media

Monday’s news that yet another solar company that received Energy Department backing is filing for bankruptcy protection at first looked like the Obama administration had funded another expensive loser.
Solar Trust’s solar farm in Blythe, Calif. would have
been one of the largest in the world

But unlike Solyndra’s high-profile and costly flameout, this time the news came with a twist that tripped up wire services, talking heads and members of Congress.

The company, Solar Trust, never took the money.

The misunderstanding underscores the complexities of DOE’s loan guarantee program, the uncertainty of the global solar market and the eagerness of many in the media to discover the next Solyndra.

Read More

No comments: