On Friday, the Energy Department approved four more solar energy loans. The grand total for these loans comes to about $5 billion. All of this occurred just hours before the loan program was going to expire. Earlier this week, two other solar loan guarantees were set up that totaled around $1.1 billion.
The biggest concern people are having with this much money being put into solar energy is the fact that not too long ago, the company Solyndra LLC filed bankruptcy. While we all agree solar energy is important, at least to some degree; it’s hard not to be afraid of another bankruptcy coming our way. With the economy the way it is, many people are concerned about that much money being put into a single project with so many issues that need to be addressed.
What do you think? Is the U.S. being selfish by putting so much money into this project or is it smart? Currently, the U.S. is trying to compete with other countries to develop renewable energy that can help them not have to rely on other countries for fuel.
Hopefully, these solar loans turn out to be a good thing and do not upset tax payers too much. $6 billion in taxes is a lot for everyone to cover when times are so tight. I really hope this will help the world in the long run, even if it is going to make things a bit tougher for us now. I’m trying to be positive and think long term; and I’m trying to put my faith in our government that they are doing what they think is best.