That sucking sound you just heard was a half billion in federal loan guarantees and $1 billion in investment capital going down the tubes. Solyndra, a California solar startup, just declared bankruptcy, adding 1,100 workers to the state's already swollen unemployment rolls.
Can U.S. companies developing advanced solar technology compete against low-cost Chinese manufacturers who benefit from state support and a government policy to create markets at home and abroad for their products?
Probably not. In fact, Solyndra's bankruptcy proves that you can have an innovative product (thin solar panels), major venture funding, and government support — and still not make a go of it. Of course, solar isn't everything. Gov. Brown has put forward a renewable-energy plan that's supposedly capable of creating 500,000 jobs, and that plan encompasses a range of non-fossil-fuel sources.