Nancy Pelosi is facing accusations of cronyism after a solar energy project, which her brother-in-law has a stake in, landed a $737 million loan guarantee from the Department of Energy, despite the growing Solyndra scandal.
The massive loan agreement is raising new concerns about the use of taxpayers’ money as vast sums are invested in technology similar to that of the doomed energy project.
The investment has intensified the debate over the effectiveness of solar energy as a major power source.
The SolarReserve project is backed by an energy investment fund where the Minority Leader’s brother-in-law Ronald Pelosi is second in command.
Working at the heart of the energy industry, I’m simply amazed by the amount of money and legitimacy bestowed upon this particular technology. Solar manufacturers foam at the mouth to reach efficiency targets that would (conversely) get the petroleum industry hung for crimes against nature. It’s material-intensive and cost-prohibitive. There are a lot of ethical companies out there trying to make a good, honest run at solar technology, but boneheaded moves like this have a way of completely derailing their progress.
With lean, large scale production operations, solar power can be a practical - and ethical - alternative to other conventional energy sources. However, anyone claiming that it can be widely deployed without incurring an added financial cost is either profiteering or disconnected from reality. Contrast that with what you hear coming out of DC.