Tempers Flare on Capitol Hill Over Silence of Solar Execs

Solyndra executives remained mum on Capitol Hill today, despite efforts by Congress to get them to explain how they went bankrupt after receiving more than $500 million dollars in taxpayer funds from the Department of Energy. ABC News reports that Pennsylvania Republican Tim Murphy, from Pittsburgh, became frustrated by the silence of Solyndra CEO Brian Harrison.

Rep. Tim Murphy (R-Pa.) appeared annoyed, asking the men to explain their “plan to pay back the taxpayers $535 million you owe them.”
“And when will you pay them back? Mr. Harrison?” he pressed.
No reply.

Harrison and Solyndra CFO W.G. Stover have invoked their Fifth Amendment rights against self-incrimination.
This may or may not be relevant to Solyndra’s fate, but the solar rush in Pennsylvania and New Jersey may be coming to an end. A new report from solar analysts about SRECS, or solar renewable energy credits, portends a crash. The solar boom that had solar panels cropping up all over New Jersey’s telephone polls lately depends on government incentives and subsidies. Power companies are required to use renewable energy or buy credits. Those credits, called SREC’s, are now plentiful and cheap. So it looks like this major solar incentive may be a victim of its own success.

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