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

"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

Untitled Document

RELATED ARTICLES

Welspun Commissions 52-MW Solar Power Plant in India

Vince Font Leading Indian solar developer Welspun Renewables has commissioned the construction of a massive solar plant in the state of Maharashtra. The planned 52-megawatt (MW) solar plant will be located in the city of Baramati. The...

Regional News from the July/August 2015 Digital Edition of Renewable Energy World

Renewable Energy World Editors EcoFasten Solar announced that it launched a new mounting "Rock-It System" that it would be displaying during Intersolar. Product compliance was determined through testing per UL Subject 2703, which reviews integr...

SkyPower Inks $2.2 Billion Deal for Massive Solar Power Plant in Kenya

Eric Ombok, Bloomberg Kenya’s Energy Ministry and SkyPower Global Ltd. will sign a $2.2 billion agreement on Sunday that paves the way for the Canadian company to develop a 1-gigawatt solar project in East Africa’s biggest economy. The solar pro...

Making a Match: How Solar Companies and Banks Hook Up

Jennifer Runyon The announcements are fairly frequent: SunPower Partners with Admirals Bank for $200 Million Solar Loan Program, Deutsche Bank to Lend $1 Billion for Japanese Solar Projects, Financing Partnerships Drive North Carolina's So...
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 4
1507REW_C11

STAY CONNECTED

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

SOCIAL ACTIVITY

Tweet the Editors! @megcichon @jennrunyon

FEATURED PARTNERS



EVENTS

Presenting at Infocast's Utility Scale Solar Summit 2015

Oct. 21, 2015 4:30-5:15pm Albie Fong, National Director, Solar Frontier ...

Utility Scale Solar Summit 2015

Oct. 21, 2015 4:30-5:15pm Albie Fong, National Director, Solar Frontier ...

5th Annual Hydro Plant Maintenance

Join maintenance professionals to discuss the challenges in maintenance ...

COMPANY BLOGS

Behind Every Good Decision

When something about your business isn’t working, you set out to c...

Clean Energy Patents Maintain High Levels in First Quarter, Solar L...

U.S. patents for Clean Energy technologies from the first quarter of 201...

An Overwhelming Paradox

I’m sure we’re all very familiar with the feeling of being o...

NEWSLETTERS

Renewable Energy: Subscribe Now

Solar Energy: Subscribe Now

Wind Energy: Subscribe Now

Geothermal Energy: Subscribe Now

Bioenergy: Subscribe Now  

 

FEATURED PARTNERS