Zero to One: Notes on Startups, or How to Build the Future · chapter 12 · id zero-to-one-c12-03-solyndra-exemplifies-cleantech

“Solyndra exemplifies cleantech failure: received hundreds of millions in government loans, built on flawed technology, and went bankrupt.”

contestedconfidence: high⚠ extracted by pipeline, re-audit pending

Receipts

DOE Inspector General Special Report (2015)source alive

Solyndra received a $535 million loan guarantee. Filed for bankruptcy September 2011. Laid off 1,100 employees. The IG found Solyndra provided statements, assertions, and certifications that were inaccurate and misleading.

NPR (2014) -- After Solyndra Loss, U.S. Energy Loan Program Turning A Profitsource alive

The DOE loan program's total loss rate is ~2.3%. Solyndra's $535M default accounts for the majority of $780M in total program defaults out of $34 billion lent. The program is 'turning a profit' overall when interest payments are factored in.

Bloomberg New Energy Finance -- DOE loan program profitability analysissource alive

The same DOE loan program that funded Solyndra also funded Tesla ($465M loan, repaid 9 years early in May 2013). The overall program generated a net profit for taxpayers. Solyndra is an outlier, not representative.

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