Obama's Budget Nixes New Money For Program That Funded Solyndra

Published: February 15, 2012

Text Size
In a quiet shift from the past two years, President Barack Obama's 2013 budget includes no new money for the Department of Energy loan guarantee program, the same program that House Republicans have scrutinized for losing more than $500 million in taxpayer dollars to the now-defunct solar power company, Solyndra. Obama has regularly included huge increases to the program's loan guarantee authority in his budget, though Congress has not approved his proposals. He provided a $36 billion increase for nuclear reactors in his 2011 budget, and again in his 2012 budget. He also included $200 million in credit subsidies for renewable and energy efficiency projects in his 2012 budget. This year, he provided nothing.

In this article

 
blog comments powered by Disqus

Recent Activity

Industry Discussions

    Industry Headlines

    • Spire Corporation to Hold Annual Meeting Webcast

      BEDFORD, Mass. Spire Corporation ("Spire") (Nasdaq: SPIR), a global solar company providing capital equipment and turn-key manufacturing lines to produce photovoltaic ("PV") modules and providing engineering, procurement and construction integration services for solar systems, today announced that the Company will hold its Special Meeting in Lieu of 2012 Annual Meeting of Stockholders on Thursday, May 17, 2012 at 10:00 a.m. (EDT) at its corporate headquarters located in Bedford

    • Small Wind Farms to Grow as U.S. Tax Incentives Expand

      Installations of wind farms with less than 20 megawatts of capacity may rise to a record this year if lawmakers expand a federal tax credit.

    • Two big wind farm projects canceled in the state

      Two big wind development projects on Appalachian ridges in Bedford and Clearfield counties have been canceled, and fewer new turbines will be spinning across the nation next year due to the possible end of a federal tax credit program that has driven development.

    • Innovation awards celebrate chicken vaccines, solar cells and making steel

      The world's most efficient solar cells, a new vaccine against chicken cholera and recycling car tyres to make steel are among the five winning inventions at the inaugural Australian Collaborative Innovation Awards.

    • Independent Solar Developers Completes World’s First Cattle Feedlot Solar Field

      COACHELLA, Calif. Independent Solar Developers completes world's first agricultural cattle feedlot CPV solar field system and replaces monthly utility costs with "ENERGY FOR DOLLARS" and valuable "ENERGY ASSETS."

    Close
    Your Settings

    Subscriptions

    Manage your subscriptions