In 2011, a solar panel manufacturer in California named Solyndra filed for bankruptcy and left 1,000 workers jobless. Solyndra would have been just been the story of a company that tried to develop a unique non-silicone photovoltaic panel and hit a ditch when silicone prices plummeted. The scandal that followed was because Solyndra received over 500 million dollars in a rushed, guaranteed federal loan. Some point out that this funding project originated in 2005 with bipartisan support during the Bush administration. Regardless of the start of this funding, the Obama administration took the torch and ran with it. They heralded Solyndra as a prime example of future of green collar jobs in America, made speeches, and stood for photo ops at the factory.
It is apparent that the Obama administration and the Department of Energy (DOE) put too many eggs in one basket with Solyndra. Critics show this as a prime example of Chicago-style cronyism and bad business sense at the taxpayer’s expense. At the very least, it was a hasty selection of a company to be a poster child for a larger energy agenda. […]