The Justice Department did not feel that it had sufficient evidence to prosecute anyone at Solyndra over alleged misrepresentations of the company’s financial health, the department said on Thursday.
A years-long investigation into the Department of Energy’s support for the bankrupt solar company Solyndra faults DOE officials, contractors, and the company itself for the department’s eventual loss of hundreds of millions of taxpayer dollars steered to the firm.
The chief executives of embattled electric car manufacturer Fisker Automotive and an official from the Department of Energy loan program will face questions from Congress on Wednesday after the government-backed company’s failure.
A mirror manufacturer for solar energy projects that has received financial help from the federal government has gone bankrupt, a development that could affect current solar projects that have also received help from the federal government.
The world’s largest solar panel maker, China’s Suntech Power, put its Wuxi subsidiary into bankruptcy following poor sales and sanctions on the company, reports CNN Money.
President Barack Obama appears to be doubling down on his policies of using taxpayer money to finance green energy investments despite an increasingly spotty track record.