So long Solyndra syndrome.
Reuters (5/28/25) reports: "President Donald Trump's administration has canceled a partial loan guarantee of $2.92 billion that had been awarded to residential solar panel installer Sunnova Energy the company said on Wednesday. A source familiar with the matter said the Department of Energy had 'de-obligated' the loan guarantee, meaning the federal government is not responsible for the financing. Bloomberg News first reported the move. Sunnova, which is restructuring its debt and has warned that it may not be able to continue as a going concern, said in a regulatory filing in March that it did not intend to use the DOE facility, known as Project Hestia, for the foreseeable future. In April 2023, former President Joe Biden's administration announced the partial loan guarantee of up to $3 billion to back financing for about 100,000 rooftop solar installations, primarily for lower-income homeowners. At the time, the Energy Department billed the facility as the largest ever U.S. government commitment to solar power...The loans office since 2009 has issued more than $35 billion in loans and loan guarantees and been paid back by companies, including Musk's Tesla. But it has also been a target for Republicans since 2011 over a $535 million loan to Solyndra, a failed solar company."
|
|
|
|
|
|
"Variable generation, like wind and solar, has not yet been definitively tagged as the source of the [Iberian] blackout. However, an honest look at the situation demonstrates that Spain and Portugal’s heavy reliance on variable wind and solar played the key role in last week’s blackout."
– Jason Hayes & Joshua Antonini, Mackinac Center
|
|
|
|
|
|
