Obama tours Solyndra, which received a Department of Energy loan guarantee

Why incentives and rebates work better than ‘government-backed green’

Remember Solyndra? The thin-film solar cell company, founded in 2005, won $535 million from the government under the Department of Energy’s  loan guarantee scheme in 2009 for being an innovative new solar tech company that could create jobs and help make America’s future green. Two years later, when its technology was beaten by a cheaper competitive technology, it filed for bankruptcy and laid off 1,100 people.