‘SunPower’ — Another Green Energy Co. Failing after Getting Millions from U.S. Government
By Marc Morano
December 22, 2023
8:17 am
CC
Reminiscent of the hundreds of millions of taxpayer dollars Obama dispersed to failed green energy ventures, a struggling solar energy company that received millions from the Biden administration is about to fold. The northern California firm is called SunPower and it is dedicated to energy storage and solar power. Last summer the Department of Energy (DOE) gave it a $6.7 million grant and earlier this year it received a $1.4 million contract from the National Aeronautics and Space Administration (NASA). This week SunPower shares are down sharply following a Securities and Exchange Commission (SEC) filing warning of “substantial doubt” about its ability to continue operating.
Public funds poured into its coffers as part of an aggressive—and costly—plan to make America green. It began when Biden was vice president and, though the Trump administration halted funding such dubious projects, the money resumed flowing under Biden despite documented failures that have fleeced the American public out of huge sums. They include bankrupt solar panel manufacturer Solyndra, among the most marked failures in the Obama-Biden administration’s effort to force costly alternative energy on consumers. The northern California company received an outlandish $529 million from the government despite the “serious concerns” of U.S. Treasury officials about the risky investment. The controversial deal was suspiciously rushed through for a politically connected entrepreneur that raised large amounts for Obama’s campaign. Judicial Watch investigated the Solyndra scandal and sued both the Obama and Biden administrations for records involving the costly back door deals that led to the loss of hundreds of millions of taxpayer dollars.
https://www.climatedepot.com/2023/12/22/sunpower-another-green-energy-co-failing-after-getting-millions-from-u-s-government/
