A California-based solar company backed by several Obama supporters has been receiving millions in federal tax credits while losing $322 million since 2008, raising concerns about the company “becoming the next Solyndra.”
Among SolarCity Corp.’s biggest investors is Elon Musk -- the high-profile donor and fundraiser who co-founded PayPal and whose companies SpaceX and electric-car company Tesla Motors have received at least $846 million in loans and startup money from the Obama administration.
Alabama Sen. Jeff Sessions, the top Republican on the Senate Budget Committee, warned about SolarCity’s financial standing in a letter Monday to the Treasury Department.
“There is concern that SolarCity might become the next Solyndra -- a company propped on the back of the taxpayers,” Sessions wrote.
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1 comment:
IDK if anyone in the real world has actually done a business plan on going solar with their energy program, but I have. It's all negative numbers. Go pound sand.
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