A tiny solar company named SoloPower has already secured $56.5 million in loans, tax credits and incentives from the state of Oregon and the city of Portland, where its first factory will be located. SoloPower is essentially a startup that uses the same non-traditional raw material in its solar panels used by the bankrupt Solyndra. SoloPower joins Solyndra and the equally bankrupt Abound Solar as one of just four U.S. panel manufacturers to clinch loan guarantees under the Department of Energy’s $35 billion program to support emerging clean energy technologies.
Morano: “It’s an ideology. It is based on fear of man-made global warming. They are saying: ‘We need to get off carbon based energy, we need to do it fast.’ That is why they are doing things that make no sense. The federal government as a venture capitalist makes no sense…. When the federal spigot turns off, the companies go belly up.… The federal government had pumped in $40 billion in a few short years to renewables. You can create the illusion of prosperity…. Yet we are producing barely over one-tenth of 1% of our energy from solar.”
For more on SoloPower, click http://bottomline.nbcnews.com/_news/2012/09/24/14068910-solar-panel-startup-to-get-197-million-from-uncle-sam.