Did obama invest 5 billion in solar company

Why did Obama visit a solar panel company?

Nine months later, in May 2010, President Obama toured the solar panel company in Fremont, Calif. It was part of his push to use the stimulus for creating green technology jobs. Less than a year ago, we were standing on what was an empty lot. But through the Recovery Act, this company received a loan to expand its operations.

Did Obama exaggerate about Solyndra loan?

President Obama exaggerated when defending his administration’s approval of a $535 million loan guarantee to Solyndra, a now-defunct solar company. Obama referred to Solyndra’s loan at an Oct. 6 press conference as “a loan guarantee program that predates me.” That’s not accurate.

How much money has the Obama Administration poured into the electric-vehicle industry?

The administration has poured roughly $5 billion into the electric-vehicle industry, but analysts say the risk is rising that taxpayers will not see a return on their money soon, if ever. New e-mails add details to the relationship between a California solar company and the Energy Department.

What important investments did Obama make?

Important investments we made were on our grid. President Obama, allocated $4.5 billion in Recovery Act funds to the Department of Energy for investments in modernizing our electrical infrastructure.

Did Obama approve Solyndra?

But so far, there’s no evidence that the Obama administration approved the loan in order to curry favor with supporters, as some have speculated. Ultimately, Solyndra was a failed investment decision on the part of the government, which, unfortunately for taxpayers, isn’t unusual.

Should Obama have loaned Solyndra money via a stimulus program?

Here’s Our Guide on Solyndra. The bankruptcy of solar firm Solyndra has raised concerns that the Obama administration shouldn’t have loaned the company money via a stimulus program. We break it all down. This post has been updated.