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Monday, October 17, 2011

Is SoloPower the next solar bust?

A lot of questions are being asked about Portland's new economic savior, that's for sure.

Comments (6)

"SoloPower has experienced internal discord β€” it paid a $20 million buyout to its founders β€” and has yet to turn a profit."

BINGO - There's the money shot. That's what most of the funding is used for whether it's Solyndar, SolarWorld (whose stock is tanking), SoloPower or ReVolt.

Using the same expensive technology as Solyndra and they already can't compete with the Chinese on pricing. This feels real warm and fuzzy.

And yet New York Senator Ron Wyden:..."U.S. Sen. Ron Wyden on Friday issued a policy paper detailing the degree to which China's practice of subsidizing solar panel makers is costing U.S. jobs." (Portland Business Journal)....so correct me if I'm wrong....we subsidize....they subsidize, ergo, level playing field? Maybe there's no market, no matter what the cost or the subsidies?

Unclear on concept. Epic fail. Chasing rainbows.

"SoloPower received a $197 million loan guarantee from the U.S. Department of Energy three weeks before Solyndra, which also received federal backing, declared bankruptcy."


Solyndra Part Deux.

Fascinating how we can find money for green scam artists and streetcars, yet nothing for schools (beyond sports and proeprty development, that is.)

"gross mismanagement, waste of corporate assets and unjust enrichment.”

Business as usual in the new economy.

"it’s not your money"

Congressman Joe Knollenberg

I wonder how much of this is due to pie-in-the-sky dreaming of making money while building a better future ...

... and ...

... how much of this just a version of "The Producers."

Of course in all of this, there is NO ACCOUNTABILITY from anyone in government. Too bad there is no prosecution for gross mismanagement of public funds.

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