2005 Energy Policy Act Pays Off


The loan program that is most-famously know by its failure surrounding Solyndra "has reported a profit of $30m, after collecting interest payments of $810m on total loans of $34.2bn, Reuters Reports." The program that was designed to kick-start the renewable energy industry, has done just that and withstood much criticism in the process.

As Peter Davidson, the executive director of the Loan Programs Office, told Reuters; "Taxpayers are not only benefiting from some of the world's most innovative energy projects... but these projects are making good on their loan repayments." This announcement verifies the success of the 2005 program as Obama gears-up to take on Republicans in the debate about recent climate change agreements with China.