Just over a decade ago, Solyndra was the most popular in solar energy. Solindra was So Interestingly, then-President Barack Obama, who was trying to create green jobs while pulling the country out of the financial crisis, decided to give the company $ 535 million loan guarantee from the Department of Energy.
During two years Solindra went bankruptis inferior to cheaper solar panels from China. Republicans launch large Congressional investigationand the FBI raided the company’s headquarters to find out where all the money went. Mitt Romney even went to Solyndra headquarters in Fremont, California, deliver a speech denouncing the government’s embezzlement of his 2012 campaign.
Republicans said Solindra is a perfect example of everything that was completely wrong in Obama’s plan to develop clean energy through government loans. But what about the rest of the loans issued by the Obama administration? And what should be the purpose of such a credit program? Reporter Shannon Osaka Crunches Department of Energy Figures and answers what really happened with the government’s green loan program.