The guaranteed loan given to Solyndra was $535 billion (at 1.025 percent quarterly interest)–a big chunk of taxpayer change. However, there are at least two other solar manufacturers that crashed after receiving federal Stimulus funds.
Evergreen Solar of Massachusetts picked up a $5.3 million state grant originally drawn from Stimulus money. They filed for bankruptcy last month. SpectraWatt of New York scored a $500,000 Stimulus grant from the National Renewable Energy Lab. They too went belly-up last month.
But wait, there could be more financial disaster slogging through the pipeline.
In April Energy Secretary Steven Chu awarded $1.2 BILLION to a solar farm in Southern California to be built by SunPower. Another solar farm in the So-Cal desert, BrightSource, secured a guaranteed loan for $1.6 BILLION. Yet another $1.45 BILLION loan was issued to solar firm, Abengoa.
The Obama administration has been throwing around money to green projects like cheap beads at Mardi Gras. We The People are ready to vote.