Now you tell us? Big Hope and Promise for Green Jobs, Recipient of $535-million federal loan guarantee, more than $1 billion in private equity funds is leaving CA.

The LA Times let’s the cat out of the bag the day after voters reject Prop 23, just in case that might have given voters pause to reconsider voting green and rejecting Prop 23 that would have suspended the Legislative AB 32 that is placing stiff demands on Businesses to pay for green technology or pay fines.

NEW: Solar company faces dark days ahead

Katy Grimes: The day after the election, the Los Angeles Times reported that Solyndra Inc., a solar power system manufacturing company in the San Francisco Bay area, is closing one of its factories, laying off 40 employees and letting the contracts for more than 150 temporary workers expire.

It’s hard not to question the timing of this information.

Even with substantial government subsidies, credits and loan guarantees, many are wondering if Solyndra enticed by the Schwarzenegger administration and/or opponents of Prop 23 to keep the news of the downsize quiet until after Tuesday’s election, in order to guarantee failure of the proposition. It certainly appears so.

The Times reported Solyndra had received “a $535-million federal loan guarantee, more than $1 billion in private equity funds and supportive visits from dignitaries such as Gov. Arnold Schwarzenegger, Energy Secretary Steven Chu, Vice President joe Biden and President Barack Obama.” Click here to read more.

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Comments

  1. I agree with Todd,
    Until sloar capital investments are affordable it will never be a practical solution.
    Todd K says:
    November 7, 2010 at 8:29 am
    They had to cover it up. It is the perfect example of where we are headed in California. I am involved in a project that is considering using Solyndra solar panels at a cost of about $183k. Even with the government subsidies of $87k the ROI is over 8 years. Without the subsidies to both the manufacturing side and end user side, the solar panels would need to be replaced before they break even. However, if the cost of electricity is driven up 300%, then it pencils. Thus the need for cap and tax. I think a good investment in California would be in gas stations along I15 and I80 near the Nevada border. All of the people leaving California will need gas.

  2. Thanks for your comment. Grim and great point.