Posted on 09/24/2012 2:50:16 PM PDT by NormsRevenge
LOS ANGELES -- A tiny San Jose solar company named SoloPower will flip the switch on production at a U.S. factory Thursday, a major step toward allowing it to tap a $197 million government loan guarantee awarded under the same controversial program that supported failed panel maker Solyndra.
SoloPower has initiated a strategy to differentiate it from struggling commodity players in the solar panel industry. Still, there are several similarities between SoloPower and Fremont-based Solyndra -- which became a lightning rod in the U.S. Presidential campaign this year after taking in more than $500 million in government loans and then filing for bankruptcy.
Like Solyndra, SoloPower is a Silicon Valley start-up and uses the same non-traditional raw material in its solar panels. And, like its now-defunct peer, SoloPower is 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. The DOE payments to SoloPower will come on top of the $56.5 million SoloPower has collected in loans, tax credits and incentives from the state of Oregon and the city of Portland, where its first factory will be located.
And, perhaps most importantly, SoloPower is entering the market at a time of cutthroat competition from cheaper solar products made in China.
(Excerpt) Read more at mercurynews.com ...
They haven’t learned a lesson at all.
How is this company going to compete with China? China’s is going to be so cheap soon you can paint your house with it
Probably picked up some nice equipment at a garage sale.
I wonder which execs of the previous failures are in charge of this one?
Although the article doesn’t mention in it, I would venture to guess that there is one more similarity to Solyndra. Most likely the guys who run it are big time Democrat cronies and donors. Those are the only folks Obama supports.
It will shut in 2 years and the guys who started it can walk away with a million or two in each pocket
If it were profitable and there were a market for it, you’d have investors doing handstands and would not need govt money.
Let me guess the CEO or management will each get paid $50,000 a month for 2 years get a bonus and then shut down the company
The ‘green’ industries are nothing more than MONEY LAUNDERING OPERATIONS FOR TEAM OBAMA.
Payback for consistent Democrat campaign donations.
CAVALIER, JOHN
LOUDONVILLE, NY 12211
MAPINFO
SWEENEY, JOHN E.
VIA SWEENEY FOR CONGRESS, INC
09/29/2006 1000.00 27940014444
CAVALIER, JOHN
LOUDONVILLE, NY 12211
MAPINFO CORPORATION
BROOKS, TRACEY
VIA FRIENDS OF TRACEY BROOKS
03/31/2008 1000.00 28931747589
CAVALIER, JOHN
LOUDONVILLE, NY 12211
NOT EMPLOYED
GILLIBRAND, KIRSTEN ELIZABETH
VIA GILLIBRAND FOR SENATE
06/30/2009 2000.00 12020103950
CAVALIER, JOHN
LOUDONVILLE, NY 12211
RETIRED
TONKO, PAUL DAVID
VIA PAUL TONKO FOR CONGRESS
09/23/2010 500.00 10932122060
CAVALIER, JOHN
LOUDONVILLE, NY 12211
RETIRED CHAIRMAN, CEO, PRESIDENT
BROOKS, TRACEY
VIA FRIENDS OF TRACEY BROOKS
08/18/2008 1300.00 28991953780
CAVALIER, JOHN
LOUDONVILLE, NY 12211
SELF
SCHUMER, CHARLES E
VIA FRIENDS OF SCHUMER
05/27/2010 2400.00 10020524228
CAVALIER, JOHN
NEW YORK, NY 10010
CREDIT SUISSE
SPECTER, ARLEN
VIA CITIZENS FOR ARLEN SPECTER
05/20/2008 1500.00 28020322384
that's $235,500,000
Have you considered applying for a government accounting job?
;-)
LG is a big global company and shouldn’t have needed subsidies in the first place.
197 million is going to be used for campaign contributions, it seems this is just a money laundering scheme.
(kind of like giving a judge campaign contributions and then recieving court appointed cases from the same judge)
Probably the one at Solyndra.
When will Americans have enough that they will storm the Bastille ??
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