DOE approves $4.7 billion more in solar loan guarantees

Ever wonder what's really wrong with government spending? Yeah - we spend too much. That's number one. But number two is illustrated by what the Department of Energy has done with "green loans" authorized by the stim bill. The Hill: The Energy Department finalized Friday more than $4.7 billion in loan guarantees for four solar projects, bringing an embattled stimulus-law program aimed at financing renewable energy projects to a close. The approvals come amid objections from House Republicans, who have alleged that the department was rushing to finalize the loan guarantees before the program expired Friday. Solyndra - a California-based solar panel manufacturer that received a $535 million loan guarantee under the program in 2009 - filed for bankruptcy earlier this month, igniting a firestorm in Washington. House Republicans have alleged that the Obama administration missed a series of red flags that hinted at the company's financial troubles. They've raised concerns about the Energy...(Read Full Post)