Just weeks after a subsidized solar panel manufacturer went bankrupt — costing taxpayers half a billion dollars — the Obama administration has approved huge, taxpayer-backed loans for two new solar power projects.
Does that seem wise to you?
You may recall the recent bankruptcy of the California company Solyndra Inc. The American people were stuck with the bill for Solyndra’s gigantic loan, and more than 1,000 employees at the company lost their jobs.
But now the U.S. Department of Energy has approved still more loans for additional solar projects:
• Tonopah Solar Energy will get a shocking $737 million loan guarantee to build a solar tower in Nevada.