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House backs measure to defund solar

July 26, 2012 at 7:06 AM   |   Comments

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WASHINGTON, July 26 (UPI) -- The U.S. House of Representatives advanced a measure through a subcommittee that would phase out federal loans for solar energy programs.

House leaders are using the bankruptcy of solar panel company Solyndra as the centerpiece of their frustration with U.S. President Barack Obama's domestic energy policy.

Solyndra went bankrupt in September after receiving a $535 million loan guarantee from the U.S. Department of Energy.

The House Energy and Commerce Subcommittee on Energy and Power passed legislation on to the full committee that would phase out the loan program.

It is time the federal government quits throwing money at failed programs," subcommittee chairman U.S. Rep. Ed Whitfield, R-Ky., said in a statement.

Obama had touted the company as a centerpiece of his green economic agenda, though the initial loan was vetted by the administration of George W. Bush.

The measure passed by the subcommittee is unlikely to pass if it makes its way to the U.S. Senate, which is controlled by Democrats.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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