LOAN GUARANTEE ACT PASSES HOUSE, DIES

'No More Solyndras' Act Approved By House; Would Terminate DOE Program

14 September 2012 (Solar Industry)

“The U.S. House of Representatives has approved H.R. 6213, known as the "No More Solyndras Act," by a vote of 245-161…The [anti-renewables] legislation - introduced by Reps. Fred Upton, R-Mich., and Cliff Stearns, R-Fla., in July - would phase out the U.S. Department of Energy's (DOE) loan guarantee program by prohibiting the issuance of any new loan guarantees and subjecting pending guarantees to new standards.

“The legislation was developed as Upton and Stearns led extensive congressional investigations into bankrupt thin-film module manufacturer Solyndra, which received a loan guarantee under the DOE program…”

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“Although Section 1705 - the provision under which Solyndra was backed - has expired, the DOE is still considering applications for loan guarantees under Section 1703, which authorizes the DOE to support clean energy technologies that are unable to obtain conventional private financing.

“Rep. Ed Markey, D-Mass., whose proposed amendment to make the underlying bill's prohibition against awarding new loan guarantees contingent on the extension of the wind energy production tax credit failed, criticized the final legislation…[The] now advances to the Senate [where it is expected to die from inattention]…”

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