As the failure of now-defunct solar panel maker Solyndra continues to make headlines, the Department of Energy’s Loan Chief Jonathan Silver plans to step down. Silver will become a Distinguished Visiting Fellow at the think tank Third Way.
The fallout from Solyndra’s bankruptcy took another step this morning when the Executive Director of the DOE’s Loan Program, Jonathan Silver, appeared before a House Committee. At issue is how $75 million in private debt became senior to the federal government’s loan, as well as insinuations that Solyndra got the loan because one of its investors is an Obama campaign donor. The hearing comes on a day when Jeffries downgraded three leading solar companies—Suntech, Trina Solar, and JA Solar—amid concerns over falling demand and sinking panel prices. At the end of the day, Chinese competition and undifferentiated panel technology are killing U.S. companies. And with many claims that China is violating WTO rules by offering nearly free capital and free land to its solar companies, the irony may be not that the U.S. government did too much to help the solar industry, but that it didn’t do enough.
Was the restructuring of Solyndra’s loan earlier this year, which was done by the DOE and subordinated government funds to private investors funds, against the law? Republicans suggested as much during a hearing on Wednesday.
There was some concern that the Department of Energy’s loan program would fall victim to budget cuts. But at GigaOM’s Green:Net conference Thursday, DOE Loan Chief Jonathan Silver said that despite those fears, changes in the new budget have actually been somewhat favorable to the program.
Close to three dozen CEOs of clean power companies — from First Solar to SunPower to Nanosolar — are pleading with congressional leaders to save the funding for the Department of Energy’s loan guarantee program.
The DOE’s Loan Program will seek guidance from relevant nuclear agencies on lessons learned from the Japanese nuclear incident, but at this point remains committed to nuclear power, said Jonathan Silver, DOE Loan Chief at the Cleantech Forum in San Francisco on Wednesday.
Since influencers are what makes the greentech industry world go round, we thought we’d bring you the 10 individuals that we think had the biggest effect on the greentech sector this year. From corporate bigwigs to policy wonks, these are the people changing the sector.
Just about one year into his role heading up the DOE’s loan program office, former VC Jonathan Silver tells us he believes the agency has come a long way from it’s first few years of neglect and delays.
The Department of Energy has treated some companies unfairly in their bids to win loan guarantees for innovative energy tech, and risked “excluding some potential applicants unnecessarily,” according to a new report from the the watchdog arm of Congress.
The Department of Energy this morning announced the tenth award for a clean energy project under the long delayed loan guaranteed program. Oregon-based U.S. Geothermal has won the latest award, on a conditional basis, for $102.2 million.