The World's #1 Renewable Energy Network for News, Information, and Companies.

"No More Solyndras" Act Passes the House

Last week, the U.S. House of Representatives voted 245 to 161 to pass the No More Solyndras Act.

The bill aims to end the loan guarantee program through the U.S. Department of Energy by preventing DOE from issuing loan guarantees on applications received after the end of 2011, and sets new restrictions on existing applications and loans.

The legislation was in response to the shutdown of Solyndra, a solar manufacturer that filed for bankruptcy in September 2012 after receiving a $535 million loan guarantee from the U.S. Department of Energy.

The U.S. House Energy and Commerce Committee Chairman Fred Upton (R-Mich) co-authored the original bill with Oversight and Investigations Subcommittee Chairman Cliff Stearns (R-Fla). The subcommittee voted 29-19 to pass the bill in August.

“Three failed companies is more than enough reason to declare DOE’s loan guarantee program a failure and end it,” said Energy and Power Subcommittee Chairman Ed Whitfield (R-Ky). “…Instead of handing out billions in loan guarantees to selected companies, we need sound energy policies that allow the public sector to thrive and create jobs. The No More Solyndras Act is a commonsense solution that will protect taxpayers and encourage a more robust energy future.”

The bill now moves on to the Senate.

This article was reprinted with permission from Power Engineering magazine as part of the PennWell Corporation Renewable Energy World Network and may not be reproduced without express written permission from the publisher.

Lead image: Capitol Building via Shutterstock

RELATED ARTICLES

The Rapid Rise of Residential Energy Storage

Markus Elsässer, Solar Promotion International (Intersolar) Energy storage is heralded as the critical technology that will make widespread adoption of renewable energy possible. Storage bottles sunlight, addressing a key drawback to solar energy — that it can’t provide electricity ...

Testing Heats Up at Sandia's Solar Tower

Rebecca Brock, Sandia National Lab Researchers at Sandia National Laboratories are working to lower the cost of solar energy systems and improve efficiencies in a big way, thanks to a system of small particles. This month, engineers lifted Sandia’s continuou...

Advanced Energy Retreats from Solar Inverter Market

Cormac Gilligan, IHS Technology US inverter supplier Advanced Energy yesterday announced it would wind down its solar inverter business having failed to attract a buyer for this part of its business. This follows intense competition and price pressure due...

Behavioral Economics and the Solar PV Industry

Paula Mints Behavioral economic theory holds that human interactions are complex and that economic motivations include nuance beyond that of maximizing utility. This is certainly true of the global solar industry as throughout its hist...
Renewable Energy World's network editors help deliver the most comprehensive news coverage of the renewable energy industries. Based in the U.S. and the UK, the team is comprised of editors from Pennwell Corporation's myriad of publications that ...

CURRENT MAGAZINE ISSUE

Volume 18, Issue 3
1505REW_C11

STAY CONNECTED

To register for our free
e-Newsletters, subscribe today:

SOCIAL ACTIVITY

Tweet the Editors! @megcichon @jennrunyon

FEATURED PARTNERS



EVENTS

NFMT Orlando

NFMT Orlando is a trade show and educational conference for facility pro...

Green Sports Alliance Summit

The annual Green Sports Alliance Summit is the world’s largest and...

SAP for Utilities

The SAP for Utilities conference is the most comprehensive SAP for Utili...

COMPANY BLOGS

How To Overcome The Myth Of Simple Payback Period

There are a handful of common myths and objections that we efficiency sa...

Everything You Need to Know About Intersolar 2015

The Intersolar North America exhibition and conference are just two week...

Renewables make huge strides globally in 2014

Renewable sources of energy are making an increasing impact on the globa...

NEWSLETTERS

Renewable Energy: Subscribe Now

Solar Energy: Subscribe Now

Wind Energy: Subscribe Now

Geothermal Energy: Subscribe Now

Bioenergy: Subscribe Now  

 

FEATURED PARTNERS