DOE support of Solyndra cost US government a half-billion dollars
AUG 03, 2012
DOI: 10.1063/PT.5.026223
Washington Post : The US Department of Energy (DOE) went ahead with a loan restructuring plan for now bankrupt solar manufacturer Solyndra despite a warning that liquidation would be cheaper. That finding is the result of an investigation by the House Energy and Commerce Committee, which is expected to release its final report this week. A January 2011 analysis from the White House Office of Management and Budget had argued that by liquidating Solyndra then, the federal government would have lost $141 million. But the restructuring paid private investors back first, so the government stands to recover only $24 million of the $527 million loan. DOE officials assert that the agency’s decision to restructure the loan was the best option based on the information available at the time.
© 2012 American Institute of Physics
