http://abcnews.go.com/Blotter/white-...ry?id=14420755
Oh my. "Money well spent". Add this to the list failed white house investments.
Obama should be impeached over this. What a scandel.
Printable View
http://abcnews.go.com/Blotter/white-...ry?id=14420755
Oh my. "Money well spent". Add this to the list failed white house investments.
Obama should be impeached over this. What a scandel.
The really sad part is that one of my customers is an unsecured creditor to this company. Now the failure propogates to innocent bystanders. All because of profound ideology.
Solyndra failure draws attention to other firms
(CBS/AP) WASHINGTON - The Obama administration is moving to finalize as many as 15 loan guarantees for renewable energy companies before the stimulus program ends on Sept. 30, and Republicans are questioning whether that could lead to more failures like Solyndra Inc., a company that filed for bankruptcy and may leave taxpayers on the hook for a half-billion-dollar loan.
The loan guarantees essentially make it easier for the companies to get financing as the government guarantees repayment in the event of default. In Solyndra's case, the loan came from the government itself, but private banks often provide the financing.
A spokesman for the Energy Department said the department won't take any shortcuts during the approval process.
"We will only close the deals that are ready to close on Sept. 30," said spokesman Damien LaVera.
Read the rest here: http://www.cbsnews.com/stories/2011/...20106602.shtml
If either Atypical or Hava-gafa-kasha have information on this issue, it would be appreciated. I quest for information, information, information so I can analyze, analyze, analyze.................................. More information.
Holy Crap!! There is more information about this bankruptcy. Facts. And more facts. And even more facts.
Oh, damn. It's rather long so maybe 'some' won't take the time. Pity, because nothing important is easy without a significant investment in time, effort and comprehension.
But lets try anyway, shall we? There are many links to even more facts and information in this story. Want to know more? READ EVERYTHING - VERY CAREFULLY.
http://act.alternet.org/go/11121?aki...18.Zy2vMA&t=18
PS. Read the first post in this thread. (Oh my. "Money well spent". Add this to the list failed white house investments.
Obama should be impeached over this. What a scandel.)
No wait for more objective information just vicious ideology prompted that remark. That's what robots do. Vomit the kool-aid. I have accused him of many things. He has denied them all including being a member of the repuke party as if that makes his dumb remarks intelligent.
He is again shown as a rabid ideologue undeserving of any respect re his 'opinions' about political and other matters.
This company received $500M in loans from the federal government that were rushed through, This company was linked to Obama supporters. This country which was touted by Obama in 2010 as a reason why his stimulus was doing so well, is now bankrupt and the loan will not be paid back.
If anything else it shows you Obama's failure. We will see if anything more sinister occurred in order for this company to get the loan.
Obama could have probably saved himself the trouble of having to defend this if not for the authorization of a NEW loan to ANOTHER solar company.
__________________
home energy monitor
Oh yes Alvin. Something very sinister happened. Read the partisan headline from Typical.
How Conservatives and Big Oil are Using a Phony Scandal to Undermine Obama, Clean Energy, and Government Itself
Here is some information to help you push back on the latest whipped-up, anti-green, anti-government, anti-Obama "scandal."
For someone so self acknowledingly bright, why does he have to go to web sites for direction?
Even Ezra Klein smells a rat.
Five myths about the Solyndra collapse
"1) This scandal is no big deal. To the contrary, evidence is mounting that there was something irregular about the way the Solyndra deal got greenlighted. My colleagues Joe Stephens and Carol D. Leonnig have obtained e-mails showing that the White House pressed the Office of Management and Budget to hurry up in reviewing the deal (note, however, that this only came after the Energy Department had approved the loan), even as OMB officials voiced concern about being rushed.
Does that prove the White House engaged in cronyism, shoveling cash toward a political ally? Not necessarily. Democrats have pointed out that Solyndra’s loan process was initiated by the Bush administration and that many key investors were Republicans. Still, there could have been other reasons the deal was hastened. As a former Clinton energy aide stressed to me, it was arguably a mistake to sell the loan guarantees as job-creating stimulus (the program was expanded as part of the 2009 stimulus bill). “It means you try to force huge amounts of money quickly through processes that aren’t quite ready yet,” the aide said. “It’d be better to have a calmer, steadier source of funding.”"
http://www.washingtonpost.com/blogs/...yvRK_blog.html
And now Solyndra exec's are taking the 5th.
http://www.washingtonpost.com/busine...piK_story.html
And Typical has the balls to call me an ideologue. Seriously, I think he just likes using the word. I was watching MSNBC for the first time this summer and Rachel Maddow used it like 5 times in her segment. Now I understand where they get it from. And yet, Fox News is bad.
Are you really for real Typical?
This loan was a poor use of tax payer dollars. The article you note claims that it was benefitial as we have know how, skilled worker and a bunch of other soft benefits that cannot buy you a cup of coffee.
Anyway.... I'm sure we'll hear more left political spin that this was "good".
Dont go too crazy S&L. I dont remember any such enthusiasm about Halliburton etc.
I know you finally found your one possible example of govt malfeasance and your salvating because its a Democratic govt in power.Why dont we wait and see how this plays itself out.
I do seem to remember you calling the money spent on Oil subsidies not worth even thinking about. I wonder if there might be a bit of hypocrisy in your sudden interest in this money. hmmm. Nothing to do with politics right? lol
"Does that prove the White House engaged in cronyism, shoveling cash toward a political ally? Not necessarily. Democrats have pointed out that Solyndra’s loan process was initiated by the Bush administration and that many key investors were Republicans. Still, there could have been other reasons the deal was hastened. As a former Clinton energy aide stressed to me, it was arguably a mistake to sell the loan guarantees as job-creating stimulus (the program was expanded as part of the 2009 stimulus bill). “It means you try to force huge amounts of money quickly through processes that aren’t quite ready yet,” the aide said. “It’d be better to have a calmer, steadier source of funding.”"
Thats a very fair analysis.
Yeap, it's all Bush's fault LMFAO.
Typical, but I would agree that it is a minor amount of money, yet so celebrated by Obama and the left. It's not about the money, but about the comments Obama (the closet republican) made about Solyndra.
By the way, the account I call on who was left short on this bankruptcy will weather it. Thanks for your concern.
Awarding a contract to a firm is NOTHING like handing a firm a preferential loan. I would agree that cronyism exists in both cases, but they are not the same. At least with a contract one is entitled to consideration. Do you even know what that means?
Siriusly Angry. No one said its all Bush's fault. No one should say its all Obama's fault. No would should take the Solyndra situation out of context and exaggerate it to make cheap political points. Do you understand what that means?
Glad to hear the account you deal with will survive. Didnt know that fact. Thanks very much.
P.S. Is Obama the first President you have called for the Impeachment of? That was a pretty crazy
comment.
You used the word IDEOLOGY above. Did you forget your railing against that word, or are just
forgetful. Jesus. I just cant keep up with all your contradictions and hypocrisy.
U.S. Solar Industry Employs 100,000 a Growth of 6.8%
If you listened to people like S&L and others you would think it had all collapsed.
http://www.dailykos.com/story/2011/0...?via=spotlight
20, 2011 AT 08:01 AM PDT
US Solar Industry Employs 100,000, a Growth of 6.8% Over Last Year.
byHoundDogFollowforKosowatt
While the bankruptcies at Solyndra and Evergreen are sad, as a whole, the US solar industry is largely, healthy and still growing, despite global price and trade wars. Shakeouts in rapidly growing new industries are not unusual. Brian Merchant, reports in Treehugger, that U.S. Solar Industry Now Employs 100,000 People, Grew 6.8% Since August 2010 I don't mean to ignore the possible need for a US industrial policy to help protect the solar industry from unfair international competition, especially from China. After inventing most of the technology, and leading the way in research and development, the US now has only 7% of the global market share of the rapidly growing and vital solar photovoltaic industry.
Don't let the Solyndra talk fool you: The clean energy sector is still booming. ... In fact, renewable energy remains one of the few sectors to see consistent growth over the last couple years.
A new report highlights that health, revealing that the solar industry employs over 100,000 people, and added over 6,700 jobs in the last 12 months alone.
•"As of August 2011, there are 100,237 solar workers in the U.S. in all 50 states.
•Across the solar supply chain, from installers to balance of system (BOS) manufacturers, to yes, even solar PV manufacturers, that's a 6.8% growth rate since August 2010.
•In terms of exact numbers, there were net 6,735 new solar jobs created since August 2010.
While the failure of Solyndra and Evergreen are troubling, the reasons are complicated, so we should be cautious of the conclusions we draw. Part of the extra challenge that US producers face is that China has targeted dominance of the emerging solar industry as a top national economic goal, in the same way the Japanese targeted auto, consumer electronics, and computers industries in the 1950 and 60s.
Large government subsidies tied with an aggressive low-cost producer strategy enabled the Chinese to drop prices for solar voltaic by 42% percent this year, after over 50% in the previous 2 years.
Solyndra's technology promised lower cost in the long-term, based on a new copper indium gallium selenide, CIGS, technology, however trying to ramp up new technology R+D prototypes during an industry price war and global trade war proved too challenging. They did not expect the prices to fall 42% this year so far, and 50% in the previous two years when making their business plans.
Other companies, are still trying to gain competitive advantage with the new CIGS approaches, and may succeed.
In Analysis: Solar startups plough ahead despite Solyndra, Nicholas Groom reports that industry experts suggest that the CIGS technology used by Solyndra still has price advantages, new entrants may be able to exploit. The challenge is not the technology but their ability to raise capital at a time when poly-silicon manufacturers are aggressively cutting prices, 42% in this last year, and especially those manufacturers based in China.
While the thin film panels using CIGS, or copper indium gallium selenide, have been slow to penetrate the market, one maker, Heliovolt, got a boost on Monday when it announced that South Korea's SK Group would make a $50 million investment to help commercialize its technology.
Last month, Solyndra succumbed to industry pressure -- saying it could not get its costs down quickly enough to compete with Chinese rivals and had failed to secure additional funding. It filed for bankruptcy a few days later. ...
CIGS solar panels have long been seen as potential challengers to traditional silicon-based panels because they cost less to manufacture and have the potential to generate close to as much electricity from the sun's light. ...
Nanosolar, which has raised about $400 million in venture funding, said its manufacturing costs will be below $1 per watt next year. That compares with manufacturing costs of about $1.10 for the lowest-cost silicon manufacturers, but is still well above the 75 cents a watt of industry cost leader First Solar Inc, which uses cadmium telluride in its panels.
Solyndra bankruptcy an embarrassment to Obama
The collapse of Solyndra, a California-based solar-panel company, has cost taxpayers $535 million in federally guaranteed loans and exposed the Obama administration to legitimate criticism of how it handled the project.
In a nutshell, the White House seems to have been so enthralled by the prospect of clean-energy jobs, as well as by a desire for a politically useful success story, that it ignored warnings that Solyndra might be a bad investment. In addition, FBI and congressional investigators are looking into more serious allegations, including claims that Solyndra executives lied to federal officials about the company’s prospects and that political favoritism may have played a role.
If you read the rest it is quite interesting: http://blogs.ajc.com/jay-bookman-blo...ment-to-obama/
The real hypocrite is the one who crys to "tax the rich" yet hires a tax account to avoid taxation. The real hypocrite is the one who crys to tax the rich, yet does not contribute additional money over and above the minimum amount to tax dollars you tax account figured out for you. And you are "rich".
Comment on anything remotely contrary to any of these tenets, and you're labelled a "tea bagger", "ideologue", "idiot"
Pro choice
Pro public schools
Pro union
Pro government intervention into the economy (Keynesian)
Anti religion
Anti corporation
Anti free market......
These are your political positions. They define you. You label yourself a proud liberal democrat.
Who is the ideologue? It works both ways pal.
http://redwing.hutman.net/~mreed/war.../ideologue.htm
Not that you would click on the link supplied, so here's what it says.
"The most common variants of Ideologue are conservative and liberal. Smug and self satisfied in their certitudes, Ideologue's opinions are merely a loose collection of intellectual conceits, and e is genuinely astonished, bewildered and and indignant that his views are not universally embraced as the Truth. He regards the opposing point of view as a form of cognitive dissonance whose only cure is relentless propagandizing (LMFAO) and browbeating. The conservative iteration of Ideologue parades himself as a logical, clear thinker, while the liberal version trumpets his higher level of mental, spiritual and social awareness. Troglodyte is the natural ally of conservative Ideologue, and for liberal Ideologue it is Weenie. Ideologue is a fierce, but very predictable Warrior.."
You are SUCH a warrior lmfao.
I hear you are considering hiring an accountant now. So i quess that makes you a hypocrite.
You assume one hires an accountant to "avoid taxation". I hire mine to do my math, and follow the rules. You are obviously of the mindset that "avoiding taxation" is your main goal. The hypocrites are the rich who pretend a little more taxes would seriously impact them. The people I admire who put their money where there mouths are, are those who say Iknow i can afford to pay more than i do and its my patriotic responsibility to help out my country in a time of need.
"you are rich". You know zero about my money. But thank you for intuitively understanding how hard I work at my craft and how well rewarded I am for it. You should work as hard as i do and maybe one day you will be as "rich" as me. lol
Why do you always seem to come off as angry, smug and so arrogant? Much like your economic mentor Peter schiff, who claims he has never made a mistaken prediction, you ignore reality and blindly avoid acknowledging facts. Its actually quite frightening. Never met someone like you outside of John. Are you guys brothers?
Im not anti free market. Im very much for a TRUE free market. You seem not to see that we have a market presently that is very much tilted in favor of a relatively few connected people and companies. The system is out of wack. Dont you know that we had a catastrophic finanical meltdown largely for this reason.
You are the true ideologue you rail against. Ironic isnt it.
GREEN TECH | 9/20/2011 @ 11:03PM |963 views
Beyond Solyndra: Five Reasons Solar Is Still a Good Bet
Read and educate yourself S&L because you clearly seem to have caught some ideological fever.
"Yes, Solyndra, the first recipient of the U.S. Department of Energy’s loan guarantee program, not to mention billions in venture capital funds, has gone bankrupt. The company is being used by Republicans as a prime example of the failure of Obama’s stimulus package, and by Democrats as … well the Democrats haven’t quite figured out what to do with the story yet.
But here’s the thing: Whether or not Solyndra was a good investment, whether you think the government should be making bets on any particular technology or company, whether Solyndra is, as one blogger recently opined, ”collateral damage in a trade war with China,”and whether or not there was some sort of political back-scratching involved, solar remains a good investment. That might sound ridiculous given the fact that Solyndra isn’t the first U.S. solar company to go under this year, by a longshot. But when you look at the reasons behind all those bankruptcies, what you see is not an industry in trouble but a market that is maturing.
Despite the tendency to want to simplify it, the solar industry is complicated. It’s a global energy industry influenced by a host of market forces, including everything from the availability of supplies to technological innovation to policy in vastly different countries. Amongst all that, right now there are five very straightforward reasons the solar market is behaving the way it is; they happen to also be reasons solar is still a good investment, bankruptcies and downgraded earnings notwithstanding.
1. The Price of Polysilicon Has Dropped 89 Percent Since 2008 A few years ago polysilicon was scarce and the price of the stuff was sky-high. That prompted a lot of the excitement around thin-film technologies like Solyndra’s, which had lower materials costs. Then polysilicon started to fall faster than anyone predicted and all of a sudden photovoltaics have the price advantage. The price of polysilicon is continuing to fall, so much so that some solar players are saying PV is already at grid parity. “What’s happening is solar is basically at grid parity, but it’s sort of a staggering thing. We all thought it would happen further off in the future,” says Dan Shugar, CEO of Solaria and founder of PowerLight.
2. European Feed-In Tariffs Are Changing Feed-in tariffs–artificially high rates paid by the government for renewable energy in an effort to speed installations and bring costs down more quickly–made Spain, Germany, Italy, France and the United Kingdom attractive markets for U.S. solar companies over the past decade. Those tariffs are set to expire as installations increase, but that doesn’t always happen in a predictable way. Spain unintentionally flooded its market, causing a boom and bust cycle. France, Italy and the United Kingdom have slashed feed-in tariffs, catching some solar companies off-guard. Germany has reduced its tariff more gradually, but there are still those who miscalculated it. While all of this has had some companies scrambling for new markets, those (like First Solar) that can claim to manufacture products in the European Union still qualify for high feed-in tariffs. Others saw the writing on the wall and began looking early for new markets, a move that is paying off now.
3. India’s Solar Market Is Heating Up The Indian government has a preference for local manufacturers, but the country’s high temperatures necessitate the use of different materials. Companies able to provide those materials, partner well with local Indian companies or sort out the country’s complicated financing hurdles are finding a booming market there. Colorado-based Abound Solar produces Cadmium Telluride (CdTe) panels that can withstand incredibly hot temperatures; the company has shifted its focus from Europe to India, where that virtue is incredibly desirable. “The only problem in India is that they can’t get enough CdTe panels,” says Julian Hawking, a spokesman for the company.
4. Enterprise and Utility-Scale Solar Suddenly Make Sense With the price of PV panels low and companies competing to keep it that way, utilities are seizing the opportunity to move forward with large-scale projects they’ve mostly just paid lip service to previously. “Just to give you an idea of scale, there’s about .3 gigawatts of PV operating in California right now. There’s 8.6 gigawatts contracted for from PPAs and over 10 gigawatts announced,” Shugar explains. “A lot of those contracts are at what’s called the market price reference – basically the price of new natural gas, determined by the California Energy Commission. Utilities would only sign on to these contracts at those levels. So a lot of folks signed up for these, but at the price that existed when they did so, it was kind of a joke. Well now those projects are actually possible at these new prices, and they can get financed.”
Meanwhile, on the enterprise side, low PV prices are not only encouraging companies to buy their own systems (rather than purchase solar through a Power Purchase Agreement, wherein the system is owned by the provider), but also jump starting projects that had been sidelined. “The low prices mean that our solar initiatives are pencilling out much better now,” says Joseph Roth, Director of Public Affairs for IKEA.
A recent report from ABI Research predicts that the United States will be the largest market for photovoltaics by 2013, thanks mostly to these large installations. Given that the majority of U.S. solar panels are currently shipped overseas, that prediction is a pretty big deal.
In fact, all signs point to a boom in utility-scale solar. Completely separate from the market fluctuations of photovoltaic panels, Abengoa’s Concentrating Solar Plant (CSP) in California’s Mojave Desert quietly received a $1.2 billion loan guarantee from the Department of Energy this week. It will no doubt be watched closely thanks to the Solyndra debacle, but that probably lends itself more to the project’s success than anything else.
5. Now that Modules Are Cheap, the Industry Is Targeting Other Improvements With PV modules cheap, the solar industry is looking to reduce balance-of-system costs (essentially the cost of everything but the module). A recent Greentech Media report predicted that these costs would outstrip module costs as early as 2012, but the industry appears to be attacking this issue from all sides with companies, National Renewable Energy Lab researchers and nonprofits like the Rocky Mountain Institute all working on the issue. Meanwhile, the dearth of capable installers and consultants that long plagued the industry shows signs of being over. Installer jobs are increasing and customers are starting to notice a greater level of knowledge and skill. “There are more solar providers and installers out there and they’ve been out there for longer, so that makes for a more competitive marketplace and it has also created a deeper expertise among those who are out there,” IKEA’s Roth says. “As solar purchasers, we feel like we have a really good pool to choose from when selecting a provider.”
Supercommittee's Cuts Could Target Popular Federal Solar Programs
A total of $1.2 trillion in spending cuts looms as the U.S. Congress' Joint Select Committee (JSC) begins work on trimming the U.S. budget. For the renewable energy sector, the most important message right now is that during the JSC negotiation process, no department, program or incentive is considered safe from the axe.
"JSC has been given wide authority to craft a package of spending reductions," said Ben McMakin, a partner at law firm Van Ness Feldman, during a recent webinar sponsored by the firm. "We'll see proposals across the gamut as this process unfolds."
Under the JSC's operational rules, all spending cuts (or tax increases) to be counted toward the required $1.2 trillion in budget savings must be approved by a bipartisan majority.
The 12-member committee, led by Sen. Patty Murray, D-Wash., and Rep. Jeb Hensarling, R-Texas, is working under an extraordinarily tight deadline - by Washington standards. The Congressional Budget Office must review and score a completed proposal from the JSC by Nov. 23, and Congress will vote by Dec. 23. The finalized plan determines federal spending through fiscal 2021.
But if the JSC fails to produce an agreed-upon plan in time, sequestration will force across-the-board spending cuts, McMakin explained, adding that the threat of sequestration is designed to intensify the pressure on JSC members during their discussion period.
(During an informal poll of webinar participants, a full 68% of respondents expressed little faith in the committee and did not expect the JSC to meet its deadline.)
Whether through a JSC decision or sequestration, several key renewable energy funding programs and incentives - as well as the U.S. Department of Energy's (DOE) renewable energy research initiatives - could fall victim to cuts.
"At this point in the process, it's really not possible to identify what the outlook is for individual departments and programs," McMakin stressed.
Nevertheless, based on Congress' previous budget wars and prevailing sentiment toward certain programs, some elements of the budget that support renewable energy have emerged as more vulnerable than others.
"There are several energy-related tax provisions that could be targeted in order to raise additional revenue," warned Michael Platner, senior tax counsel at Van Ness Feldman. "If the committee begins to look at tax reform more broadly, they could look at all [provisions] that are considered tax expenditures."
These provisions - many of which expire at the end of this year - include the U.S. Department of the Treasury's popular Section 1603 cash-grant program.
According to Platner, this program has a "fairly slim" chance of being extended. Because it was enacted in 2009 as part of the controversial American Recovery and Reinvestment Act, many Republicans have historically railed against it.
Moreover, he added, extending any tax provision of this type would result in lost revenue on the budget side - which directly opposes the very goal of the JSC.
The investment tax credit and production tax credit may have a better chance of long-term survival, but their extension still faces an uphill battle.
"As we're looking at all energy incentives in this mode of trying to reduce deficit and cut spending, it's going to be really difficult to extend any energy incentives," McMakin noted.
Clues as to how funding for the DOE may fare as the JSC does its work can be found in past budget studies and plans from Congress and the Obama administration. McMakin pointed out that the president requested an increase in overall DOE funding (to approximately $31 billion) for fiscal 2012, for instance, but both the House and the Senate passed recommendations calling for decreases to approximately $25 billion.
As a general rule, these historical discrepancies, coupled with the current political climate, suggest reduced - or, at best, flat - funding levels for the DOE in the future, McMakin said.
Although some cuts may be inevitable, lobbying efforts from various industries have kicked into high gear, and for the renewable energy sector, now is the time to jump into the fray.
"Education and engagement will be required to protect and promote your interests," said Lisa Epifani, a member at Van Ness Feldman. In particular, she recommended that renewable energy companies and their political-action partners be ready to demonstrate exactly how their sector's incentives lead to job growth - the top-of-mind concern for most policymakers right now.
The preferred advocacy pathways for reaching the crucial JSC decision-makers remain unclear. Other committees may send markups to the JSC, and the JSC may bounce ideas off committees for reaction. "Some might not provide formal recommendations, because that might negotiate against their own interests," Epifani pointed out.
In any case, she suggested that renewable energy firms and organizations stay engaged with their political allies and consider both traditional and creative means of lobbying. Unconventional alliances, for instance, may prove to be compelling to the JSC.
http://www.solarindustrymag.com/e107...p?content.8739
I work in this industry. You read about it lol.
Sounds like you are rooting for the industry to die. lol
Have you ever posted a POSITIVE article on the industry? PRETTY ODD for some who
"works in the industry". Actually pretty bizarre.
I studied (took workshops and classes) and worked in the solar field (installed solar hot water systems) in my 20's (before you even knew what it was. lol)
I have watched it for a long time. Its still a growing industry as I have factually pointed out.
I noticed you werent able to COMMENT on the article i provided that discusses the "five reasons that solar is still a good bet". Typical S&L.
I'm skeptical. Is that allowable in your liberal democrat dogma?
Why do you always demand a comment? Are you seeking some sort of validation? I hope it does continue to be strong. I'm actually in the process of planning 2012 solar sales, and certainly hope it is stronger than what I plan for lol.
I repeat. "Have you ever posted a POSITIVE article on the industry".
You cant answer because you know the answer is NO. You are completely transparent
but have no idea. What a combination.
Is it allowable to answer a question in your right wing Republican Dogma? (2 can play this silly game.)
Skeptical is always allowed. But tearing the alternative energy industry down constantly with no counter arguments is not.
And saying that the "solar industry has not collapsed YET" tends to indicate that you think it will.
I dont need validation. Are you a narcissist?
All I am trying to do is get you on the record. Something you seem afraid of here.
Its been hard enough getting you to admit something completely proven and obvious, and that is that Peter Schiff has made multiple mistaken predictions.