President of the United States and Company President Obama
Solyndra
Abstract
When reading this essay you will get an understanding of a brief history of Solyndra. This essay will also contain some of the many laws that have been broken by Solyndra.
Solyndra was found in 2005 by Dr. Christian Gronet. In 2006 Dr. Gronet opened the Solyndra office, which is its headquarters in Fremont, California. It wasn’t until 2007 before they were able to begin production on Fab 1. (Solyndra.com) During 2008 Solyndra was able to open a new office in Germany along with their first commercial solar panel shipments. Going into 2009 it looked like it was going to a great year and to Solyndra it was. They reached the $100 million dollar revenue mark by having the largest single installation in the U.S. (Solyndra.com). This was also the year that they received a $535 million stimulus package, DOE loan guarantee for continued construction. This loan from the DOE was such big deal because of the “Green Jobs” that it would create that Vice President Biden, Energy Secretary Chu, and Governor Arnold Schwarzenegger paid visits to the Solyndra offices. In truth this was only the beginning of problems to come. Even though there were auditors raising concerns about whether Solyndra can continue as a company President Obama visits Solyndra in 2010 as states “that Solyndra is a model company”. (Washington Post Sept. 23 2011). Then in August 2011 this so called “model company” filed for bankruptcy and closes its plant. This is where the problems begin with Solyndra.
With Solyndra filling for bankruptcy after receiving the $539 million in stimulus money from the DOE it threw up the red flags. What laws if any were broken? According to Rep. Cliff Stearns, R-Fla officials from the Department of Energy and the White House broke the Energy Policy Act of 2005. (Newsmaxs.com, Scicchitano and Martella) The Energy Policy Act of 2005 was passed by the 109th Congress and signed into law by President George W. Bush on August 8th 2005. (doi.net) The part of the Energy
Abstract
When reading this essay you will get an understanding of a brief history of Solyndra. This essay will also contain some of the many laws that have been broken by Solyndra.
Solyndra was found in 2005 by Dr. Christian Gronet. In 2006 Dr. Gronet opened the Solyndra office, which is its headquarters in Fremont, California. It wasn’t until 2007 before they were able to begin production on Fab 1. (Solyndra.com) During 2008 Solyndra was able to open a new office in Germany along with their first commercial solar panel shipments. Going into 2009 it looked like it was going to a great year and to Solyndra it was. They reached the $100 million dollar revenue mark by having the largest single installation in the U.S. (Solyndra.com). This was also the year that they received a $535 million stimulus package, DOE loan guarantee for continued construction. This loan from the DOE was such big deal because of the “Green Jobs” that it would create that Vice President Biden, Energy Secretary Chu, and Governor Arnold Schwarzenegger paid visits to the Solyndra offices. In truth this was only the beginning of problems to come. Even though there were auditors raising concerns about whether Solyndra can continue as a company President Obama visits Solyndra in 2010 as states “that Solyndra is a model company”. (Washington Post Sept. 23 2011). Then in August 2011 this so called “model company” filed for bankruptcy and closes its plant. This is where the problems begin with Solyndra.
With Solyndra filling for bankruptcy after receiving the $539 million in stimulus money from the DOE it threw up the red flags. What laws if any were broken? According to Rep. Cliff Stearns, R-Fla officials from the Department of Energy and the White House broke the Energy Policy Act of 2005. (Newsmaxs.com, Scicchitano and Martella) The Energy Policy Act of 2005 was passed by the 109th Congress and signed into law by President George W. Bush on August 8th 2005. (doi.net) The part of the Energy