In the post-Lehman/global financial meltdown era it’s been repeatedly said that the money power has left Wall Street for the shores of the Potomac in Washington.
This is not just a talking point, but a stark reality for whole industries — the renewable energy sector among them– which have come to rely on Washington for their mid-to-long-term survival.
The government’s pivotal role as a funder of last and first resort was glaringly apparent this week with the announcement that BrightSource Energy was offered a $1.37 billion loan guarantee (if it meets certain conditions) from the Department of Energy. The BrightSource loan guarantee dwarfs the $535 million thin-film photovoltaic cell maker Solyndra got last year, which, until now, was the largest such loan guarantee. Continue reading This Week In Green Energy: Wheres The Money? …In Washington!