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A recent “60 Minutes” segment essentially called the cleantech industry a failure, eliciting a flurry of criticisms defending the green technology sector. “Hoping to create innovation and jobs, [President Obama] committed north of $100 billion in loans, grants and tax breaks to cleantech. But instead of breakthroughs, the sector suffered a string of expensive tax-funded flops. Suddenly cleantech was a dirty word,” said “60 Minutes’” host, Lesley Stahl. One of the main criticisms against the CBS segment was that it conflated the cleantech venture capital sector of Silicon Valley with the Department of Energy’s loan guarantee program. The critics have… [more]View Discussion
At the recent National Clean Energy Summit in Nevada, Energy Secretary Ernest Moniz lauded federal loans for green energy projects. “We have done a lot to try to get renewables out there, in fact in [Nevada] six loan guarantees, four in geothermal, one in CSP, and one on the grid… all come together to see real progress on the ground,” said Secretary Moniz. The loan guarantee programs have garnered significant skepticism and criticism, with much of the criticism focused on the collapse of Solyndra. Some critics have argued against the government acting as venture capitalists and others suggest tax cuts… [more]View Discussion