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Wednesday, April 4, 2012

Winning! Solar Trust Goes Belly Up

Interior Secretary Ken Salazar and Gov. Jerry Brown, D-Calif., at the Blythe solar project groundbreaking.

Solar Trust is the latest win-win DOE investment to go from green to red. President Obama and Secretary Chu stand to lose $2.1 billion in taxpayer money on this latest fiasco. Uwe Schmidt, chairman and CEO of the company seemed to have the industry's problems diagnosed in a Huffington Post article written just last September. The problem was Solyndra, an isolated problem that had given the solar industry a bad rap.

"So what went wrong with our federal program to support renewables? Nothing, except one company's bankruptcy has cast doubt on the credibility of a government program that is otherwise being administered with incredible efficiency."

Guess incredible efficiency isn't what it used to be. Of course that efficiency was mitigated by posturing and finger pointing.

"Indeed, despite the posturing and finger pointing, the American solar energy industry is alive and well. I should know."

Yup, he should know.

" Being nimble and responsive to market realities are crucial traits for any company that is going to survive in today's renewable energy industry."

Maybe he should have cultivated those traits.

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