Remarks by the President on the Economy, Solyndra, Inc. Fremont, California

The White House ^ | May 26, 2011 | Barack H. Obama

[Oldeconomybuyer]

THE PRESIDENT: Thank you. Everybody please have a seat. (Applause.) It is wonderful to be here and to see all of you here today. And I would be remiss if I did not note the presence of your governor, give him a big round of applause, Arnold Schwarzenegger. (Applause.)

Fifteen years ago, the United States produced 40 percent of the world’s solar panels -- 40 percent. That was just 15 years ago. By 2008, our share had fallen to just over 5 percent.

So that’s why we’ve placed a big emphasis on clean energy. It’s the right thing to do for our environment, it’s the right thing to do for our national security, but it’s also the right thing to do for our economy.

And we can see the positive impacts right here at Solyndra. Less than a year ago, we were standing on what was an empty lot. But through the Recovery Act, this company received a loan to expand its operations. This new factory is the result of those loans.

Here at this site, Solyndra expects to make enough solar panels each year to generate 500 megawatts of electricity. And over the lifetime of this expanded facility, that could be like replacing as many as eight coal-fired power plants.

So thank you very much. God bless you. God bless the United States of America. (Applause.)

[Oldeconomybuyer]

I'm surprised the White House hasn't scrubbed their website of SolyndraGate.

[bronxville]

It looks like no one on FR is interested in what he has to say...:)

[Krodg]

When you pray to a God you don’t know, the answer is usually NO.