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Report: Billions spent on more than 1,500 solar projects

The Daily Caller -- A Government Accountability Office report shows that there were 65 federal initiatives to support solar technology in 2010 and 2011.

During that time, officials from six federal government agencies reported obligating $2.6 billion for more than 1,500 solar energy projects, with more than 90 percent of these obligations coming from the Department of Energy.

Of the $2.3 billion the DOE spent those two year, most — $1.7 billion — went to fund the Section 1705 loan guarantee program, the very same program that gave taxpayer backed loans to failed solar companies like Solyndra and Abound Solar.

Solyndra received a $535 million loan guarantee in September 2009 and subsequently filed for bankruptcy in August 2011 — the company laid off 1,100 workers, and prompted a congressional investig

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Submitted Oct 03, 2012 By: aservant

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jtravis711 Sophomore Author Orange County Posts:174 Points:213,865 Joined:Feb 2011	Message Posted: Oct 4, 2012 11:56:13 AM Ignore jtravis711 Report Abuse If its true that the government backing of these companies for so called energy independence was due in part to the political contributions to Obamma is very revealing....can the same be said for the banks that are backed by the government to big to fail?? This is not government support of our free market system but intervention thats detrimental to all of us.
remay Champion Author Houston Posts:7,078 Points:2,143,215 Joined:May 2006	Message Posted: Oct 4, 2012 9:05:57 AM Ignore remay Report Abuse And those responsible will most-likely NOT be reprimanded.
qwerty17 Champion Author New Jersey Posts:3,760 Points:1,143,275 Joined:Oct 2009	Message Posted: Oct 4, 2012 8:58:47 AM Ignore qwerty17 Report Abuse in a down economy, you cannot gamble on pie in the sky ideals.
MAC48 Champion Author Dallas Posts:1,580 Points:788,400 Joined:Dec 2006	Message Posted: Oct 4, 2012 12:51:22 AM Ignore MAC48 Report Abuse The really important question is how does the taxpayer keep governments at all levels from wasting tax dollars for economically unjustifiable spending on alternative electrical energy generation technology until such time that the alternative electrical energy can be produced at the lowest cost of any other possible method of electricity generation available.
LilRedWagonIN Champion Author Indiana Posts:7,907 Points:1,580,135 Joined:Oct 2008	Message Posted: Oct 4, 2012 12:39:29 AM Ignore LilRedWagonIN Report Abuse Is half of them going bankrupt an abnormally high percentage? Does the high percentage of them having given campaign contributions to this administration have any connection?
mpg611 Champion Author Cleveland Posts:2,479 Points:596,795 Joined:Apr 2011	Message Posted: Oct 4, 2012 12:24:18 AM Ignore mpg611 Report Abuse Like we can afford that right now...........
rahcat Champion Author Grand Rapids Posts:2,681 Points:689,900 Joined:Jan 2010	Message Posted: Oct 4, 2012 12:11:57 AM Ignore rahcat Report Abuse Taxpayer hard earned money sucked into a black hole.
gaspumpin Champion Author Indiana Posts:1,792 Points:415,820 Joined:Apr 2012	Message Posted: Oct 4, 2012 12:10:41 AM Ignore gaspumpin Report Abuse Billions that could have been put to better use.
Aviator_Rob Champion Author New York Posts:3,985 Points:440,290 Joined:Mar 2012	Message Posted: Oct 4, 2012 12:01:13 AM Ignore Aviator_Rob Report Abuse And while everyone here is griping about LOAN GUARANTEES, China continues to pump $35 billion per year in outright GRANTS! All for the purpose of dumping below cost solar panels on the world market. Their goal? To corner the market and be a leader in green technology. Everyone here really think we should just bend over for China?
DutchTreatMI Champion Author Grand Rapids Posts:3,441 Points:778,640 Joined:Mar 2011	Message Posted: Oct 3, 2012 11:58:07 PM Ignore DutchTreatMI Report Abuse Too many failed Solar Companies.
clermont40miles Champion Author Cincinnati Posts:10,754 Points:1,799,595 Joined:Apr 2008	Message Posted: Oct 3, 2012 11:57:22 PM Ignore clermont40miles Report Abuse Huge amount of money. The technology works but is very expensive. And takes a lot of area to generate little power.
mstearno Champion Author Dayton Posts:8,174 Points:1,755,920 Joined:Jan 2008	Message Posted: Oct 3, 2012 11:56:19 PM Ignore mstearno Report Abuse expensive to quote Romney he's picking looseres
suicyco16 All-Star Author Phoenix Posts:599 Points:310,835 Joined:Jun 2012	Message Posted: Oct 3, 2012 11:55:07 PM Ignore suicyco16 Report Abuse yup
Mowerman08 Champion Author Milwaukee Posts:4,878 Points:1,243,255 Joined:Aug 2008	Message Posted: Oct 3, 2012 11:54:11 PM Ignore Mowerman08 Report Abuse WHAT A WASTE of taxpayer money and addition to the National debt!
OOXXFF Champion Author Greensboro Posts:3,193 Points:1,105,905 Joined:Sep 2009	Message Posted: Oct 3, 2012 11:53:06 PM Ignore OOXXFF Report Abuse I hope that investment pays off in new, renewable, green energy.
greatartiste All-Star Author New Jersey Posts:540 Points:105,810 Joined:Apr 2011	Message Posted: Oct 3, 2012 11:52:50 PM Ignore greatartiste Report Abuse actual solar installations will provide cost/pollution reduction over time.
frostyWV Champion Author West Virginia Posts:2,339 Points:519,235 Joined:May 2011	Message Posted: Oct 3, 2012 11:51:35 PM Ignore frostyWV Report Abuse ok
joeschmo12 Champion Author New York Posts:1,108 Points:326,500 Joined:Mar 2012	Message Posted: Oct 3, 2012 11:50:56 PM Ignore joeschmo12 Report Abuse these solar projects should've been done by now...
MDTDriver Champion Author California Posts:9,848 Points:2,180,900 Joined:Jul 2006	Message Posted: Oct 3, 2012 11:49:20 PM Ignore MDTDriver Report Abuse Why is the deficit to high.
hcivic Champion Author Virginia Posts:3,989 Points:2,292,440 Joined:Aug 2005	Message Posted: Oct 3, 2012 11:47:34 PM Ignore hcivic Report Abuse ok
hpow Rookie Author Vancouver Posts:85 Points:18,850 Joined:Oct 2012	Message Posted: Oct 3, 2012 11:40:02 PM Ignore hpow Report Abuse crazy
bonzoonfmb Champion Author Florida Posts:1,817 Points:664,160 Joined:Feb 2010	Message Posted: Oct 3, 2012 11:38:57 PM Ignore bonzoonfmb Report Abuse Billions spent, negative return. Good job.
Gas4Gore Champion Author Detroit Posts:2,524 Points:444,225 Joined:Jan 2010	Message Posted: Oct 3, 2012 11:37:00 PM Ignore Gas4Gore Report Abuse This will not happen after Romney is in office as President.
Pauline579 All-Star Author North Carolina Posts:836 Points:150,090 Joined:Mar 2012	Message Posted: Oct 3, 2012 11:36:38 PM Ignore Pauline579 Report Abuse Another article about government wasteful spending
txkrb Champion Author Texas Posts:1,597 Points:660,645 Joined:May 2011	Message Posted: Oct 3, 2012 11:34:50 PM Ignore txkrb Report Abuse I have yet to hear about a single one of these project being successful
FogCitySpotter Champion Author San Francisco Posts:2,620 Points:548,540 Joined:Apr 2007	Message Posted: Oct 3, 2012 11:34:03 PM Ignore FogCitySpotter Report Abuse Still not ready for prime time
txkrb Champion Author Texas Posts:1,597 Points:660,645 Joined:May 2011	Message Posted: Oct 3, 2012 11:33:52 PM Ignore txkrb Report Abuse Wasted money To enstein (in name only) Trickle down worked in the 80s Higher taxes will never improve the economy, the more you are taxed the less you have to spend (in the economy) and less to invest in the economy and for those who say G.W. Bush favored the wealthy, his tax cuts were the largest in history for lower income groups, thanks to the Bush tax cuts a family of 4 making $42,000 a year pays ZERO income taxes Prior to the Bush tax cuts they would have paid over $2,500 in federal income taxes, that is a tax cut of 100% for the lower income families
wayoung56 Champion Author Alabama Posts:2,920 Points:845,010 Joined:Oct 2006	Message Posted: Oct 3, 2012 11:33:14 PM Ignore wayoung56 Report Abuse More taxpayer money down the drain...
dirt girl Champion Author Twin Cities Posts:36,088 Points:3,099,010 Joined:Oct 2004	Message Posted: Oct 3, 2012 11:32:29 PM Ignore dirt girl Report Abuse How quickly you all forget. We would have had more altenative energy options back as early as the 70's but when Reagan "trickle down economics" got elected, he scraped a lot of the funding for solar and wind.
papagee55 Sophomore Author South Carolina Posts:202 Points:46,670 Joined:Mar 2008	Message Posted: Oct 3, 2012 11:30:11 PM Ignore papagee55 Report Abuse ok on with the money....
abacus44 Champion Author Toms River Posts:3,600 Points:773,790 Joined:Jan 2011	Message Posted: Oct 3, 2012 11:29:06 PM Ignore abacus44 Report Abuse Research and development is an investment, however throwing money at companies that your advisors warned you were bound to fail isn't investment, it's borderline criminal, especially when you are making those loans to campaign cronies.
yorkygurl2008 Veteran Author Indiana Posts:257 Points:51,785 Joined:Sep 2012	Message Posted: Oct 3, 2012 11:28:42 PM Ignore yorkygurl2008 Report Abuse I SEE !!!!!!!
SavALot Champion Author Virginia Beach Posts:8,618 Points:1,738,435 Joined:Apr 2005	Message Posted: Oct 3, 2012 11:27:52 PM Ignore SavALot Report Abuse The energy source is so abundant let's hope it's utilized properly
Enstein Champion Author Lansing Posts:1,136 Points:57,590 Joined:May 2011	Message Posted: Oct 3, 2012 11:27:43 PM Ignore Enstein Report Abuse Mr. Obama is the man for 4 more years. Mitt is a loser with no ideals except the failed trickle down that never trickled down. We all know Bush, Cheney and crowd screwed up and left a mess. OBAMA 2012.
FunMyster All-Star Author Indiana Posts:909 Points:73,480 Joined:Jul 2011	Message Posted: Oct 3, 2012 11:27:14 PM Ignore FunMyster Report Abuse ya
30mpg80 Champion Author Lexington Posts:10,265 Points:1,514,580 Joined:Nov 2008	Message Posted: Oct 3, 2012 11:26:55 PM Ignore 30mpg80 Report Abuse The Daily Caller? Be careful, you might get very dizzy from the spin!
danreino Champion Author Twin Cities Posts:8,474 Points:1,564,510 Joined:Mar 2008	Message Posted: Oct 3, 2012 11:26:49 PM Ignore danreino Report Abuse $900 Billion funneled to China...Thanks for playing ;(
WIPACKERFAN Champion Author Chicago Posts:8,939 Points:1,870,175 Joined:Aug 2005	Message Posted: Oct 3, 2012 11:26:46 PM Ignore WIPACKERFAN Report Abuse This is totally rediculous.
gd83goldwinger Champion Author South Bend Posts:1,428 Points:519,230 Joined:May 2011	Message Posted: Oct 3, 2012 11:25:24 PM Ignore gd83goldwinger Report Abuse Government waste, what they should be doing is getting a loan pay back guarantee from these companys. If he gets in it will be twice fold and no one be working except in the service sector.
goodbuy Champion Author Michigan Posts:7,806 Points:1,449,205 Joined:May 2005	Message Posted: Oct 3, 2012 11:19:34 PM Ignore goodbuy Report Abuse I can eliminate unemployment tomorrow. Eliminate all unemployment benefits and if no one is collecting, 0% unemployment. THAT is how Romney will do it. He sure ain't going to find people jobs. After all, 47% of us expect the government to take care of us. Romney's words. I hope they are true if he gets elected. Romney can take care of 47% of the population because that is about how many of us will not have a job.
1WI All-Star Author Appleton Posts:818 Points:274,255 Joined:Jan 2012	Message Posted: Oct 3, 2012 11:17:15 PM Ignore 1WI Report Abuse "Tell me one area where Paul Ryan and Sarah Palin would disagree? I cannot find one area. So somehow he's the smartest guy in the party and she's the stupidest woman on earth, but they agree on everything."
scubadaniel Champion Author Dayton Posts:1,551 Points:718,550 Joined:Jan 2011	Message Posted: Oct 3, 2012 11:15:57 PM Ignore scubadaniel Report Abuse Hey Einstein.. of the 2 people running for president, which never help a job in the private sector? Private high school, very expensive colleges (who paid for those) and community organizing jobs... NOTHING in the private sector for Obama.
goldrose1 Champion Author Cleveland Posts:11,071 Points:1,949,605 Joined:Feb 2005	Message Posted: Oct 3, 2012 11:12:09 PM Ignore goldrose1 Report Abuse Politicians throwing our tax dollars around, expecting that they can influence businesses and an entire sector of the world economy. Maybe they can. Some times. Doesn't seem like it makes much difference except an excuse to raise taxes, indemnify our children and grand children with national debt. As in poker, I wonder if they've gone "all in," yet.
Enstein Champion Author Lansing Posts:1,136 Points:57,590 Joined:May 2011	Message Posted: Oct 3, 2012 11:11:35 PM Ignore Enstein Report Abuse If Romney gets in we will not need energy as most will not be able to pay for it. Romney is another Bush, family sponged off taxpayers all his life and everything given to him. OBAMA 2012. [Edited by: Enstein at 10/3/2012 11:12:57 PM EST]
serrog Champion Author Nova Scotia Posts:5,705 Points:1,539,830 Joined:Oct 2008	Message Posted: Oct 3, 2012 11:03:26 PM Ignore serrog Report Abuse ok
John747 Champion Author Chicago Posts:474,605 Points:3,652,610 Joined:Aug 2001	Message Posted: Oct 3, 2012 11:02:14 PM Ignore John747 Report Abuse Just another way the government wastes taxpayer money.
mrbee Champion Author Little Rock Posts:3,893 Points:2,493,310 Joined:Oct 2005	Message Posted: Oct 3, 2012 10:59:15 PM Ignore mrbee Report Abuse More waste.
camel1 Champion Author Minnesota Posts:8,410 Points:2,294,315 Joined:Jul 2006	Message Posted: Oct 3, 2012 10:58:05 PM Ignore camel1 Report Abuse ok
DarthDadJr Champion Author Virginia Posts:7,427 Points:1,545,670 Joined:Jul 2008	Message Posted: Oct 3, 2012 10:58:02 PM Ignore DarthDadJr Report Abuse ...about the same went to the oil industry last year...that didn't get you anything either.
Mikeyl Champion Author Cleveland Posts:5,297 Points:1,210,620 Joined:Aug 2004	Message Posted: Oct 3, 2012 10:57:09 PM Ignore Mikeyl Report Abuse More of the "trickle-down government" that Romney was talking about in the debate tonight. Is this really the right path? Should government be leading the way or should private enterprise take the lead? I think you know who your candidate is based upon your answer to that question. And, the fate of our country rests on your shoulders. Consider your options wisely.