Now this is worth subsidizing!Cross-posted from ThinkProgress Green. Today, House Republicans crowed over the bankruptcy of Solyndra, a company with an innovative thin-film solar technology granted a $535 million loan guarantee under the 2005 Energy Policy Act. Massive investments by the Chinese government drove down the price of polysilicon and pushed Solyndra into bankruptcy at the beginning of this month, despite annual revenues of over $100 million a year. The company is now under investigation by the FBI, likely because of assurances made to Congress by its top officials that Solyndra was in good financial health. At a hearing today, …
Get Grist in Your Inbox
Brad Johnson is the campaign manager of Forecast the Facts. He was previously the editor for ThinkProgress Green. Brad holds a bachelor's degree in math and physics from Amherst College and master's degree in geosciences from the Massachusetts Institute of Technology.