24 Oct '11, 3pm

Solyndra, schmolyndra: The Obama administration’s hit rate is better than the private market’s

Making loans is a tricky business -- sometimes you bet on the wrong horse. For example, there's the Obama administration, which doled out 1.4 percent of its Recovery Act cleantech investments to failed solar company Solyndra, in a move that everyone and their uncle is now calling a giant embarrassment. And then there's private venture capital, which invests in green energy companies that fail at least 30 percent of the time. According to Susan Kraemer at CleanTechnica, the Obama admin's hit rate far outperforms venture capitalists: The US government guarantee of a private loan to Solyndra, at $535 million, represented a minuscule 1.4% of the Department of Energy investment in all renewable technologies. By contrast -- VCs (who were out $1 billion to Solyndra, for example) expect much higher failure rates. Richard Stuebi, who advises VCs on expected green energy failure rat...

Full article: http://www.grist.org/list/2011-10-24-solyndra-schmolyndra...

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