401kRollover Blog

As of April 27, 2015, five green energy programs have defaulted on Department of Energy loans, including the infamous Solyndra. The other companies who couldn’t come up with enough “green” to repay their loans are:

• Fisker
  
• Abound Solar
  
• Beacon Power
  
• Vehicle Production Group
  

Despite the fact that the Department of Energy boasted about the “strong financial performance” of its green energy programs, it turns out the accountants “forgot” to calculate interest that was owed to the U.S. Treasury, as well as various administrative costs. As it stands, these five failed green energy programs have cost taxpayers a total of $807 million (so far).

If you think real “green energy” comes from hardworking Americans, and not “pie-in-the-sky” startups that keep most of their employees overseas, please Like & Share this post.