We all cringed the first time we heard that Solyndra would be the recipient of $535 million in loan guarantees.
Quite frankly, few in the business could make sense of why Solyndra was chosen over so many other solar companies for this kind of loan guarantee in the first place. And of course, the biggest fear was that it would turn out to be a really bad investment that would inevitably be used to attack the entire solar industry.
That's exactly what has happened.
But while the naysayers, laggards and partisan slaves have jumped on the Solyndra debacle faster than Michele Bachmann on the crazy train - the solar industry still hasn't missed a beat.
In fact, solar is one of the few remaining American success stories around these days. Here's why. . .
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The solar industry employs more than 100,000 Americans, more than twice as many as in 2009. they work at more than 5,000 companies, the vast majority being small businesses, in all 50 states.
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The U.S. solar industry grew by 69% in the past year, making it one of the fastest growing sectors in the U.S. economy.
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Since the beginning of 2010, the price of solar panels has dropped by 30%, and costs continue to fall making solar an even more viable choice for residential and business customers.
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The U.S. was a net exporter of solar products in 2010 by $2 billion. We were even a net exporter to China.
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Solar power in the U.S. now exceeds 3,100 megawatts. That's enough to power more than 630,000 homes.
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Continued industry growth enhances our energy security and diversifies our domestic energy portfolio.
Solar's the real deal, my friend. And in another five to ten years, we'll be looking back to these days, laughing the same way we laugh today about the folks who once said the automobile would never replace the horse.
The future of solar is solid. And investors that ignore this reality will miss out on one of the greatest investment opportunities of the 21st century.
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