Via Tina Kobe at Hot Air the take home messages from this developing scandal are as follows:
- The administration fast-tracked a $535 million loan to Solyndra.
- Major Solyndra investors were often also major Obama donors.
- Solyndra declared bankruptcy, despite apparently making it appear to the administration as recently as July that the company’s finances were fine.
This pay to play scheme not only violates basic economic principles, it taints the reputation of all green businesses legitimately competing within an energy marketplace. A quick look at my “Where I Stand” page reveals my support for green energy technology along with every other source of energy known to man. I’ve no problem with solar energy being a viable choice for consumers. If evidence comes to light that this Administration was using undue political influence to ‘pick a winner’ in the green energy market, it is an egregious break of faith with the citizens of this nation and damaging to other green energy companies across the nation.
This weekend I attended a Fall Harvest Festival organized by the Pennsylvania Horticultural Society (PHS), while there I picked up a gardening award and stopped to chat with a local vendor of solar panel systems. The subject of Solyndra did not come up, but the sales pitch was quite informative. Local companies, Sunpower and Heat Shed, are competing against a near monopoly called PECO. The representative framed the use of solar power within a urban environment as a cost saving measure, not a replacement of local power from PECO. This is the reality solar power in a large metropolitan cities. Solar power will not replace traditional means of power, but it will reduce consumers electricity costs.
I went online to sunpower corporation and received a free estimate of a solar panel installation package for my home. After state and federal rebates the estimated cost came to $22,000. The cost of solar power is still quite pricey for the average consumer. Government meddling ala Solyndra does not help this green industry find the cost point that will induce consumers to buy enmass.