Associated Press photo by Paul Sakuma

Solar scandal

2011 News of the Year | Solyndra files for bankruptcy despite millons of dollars in federal loan guarantees

Issue: "2011 News of the Year," Dec. 31, 2011

Solyndra, a California-based solar panel producer that received more than half a billion dollars in federal loan guarantees, closed its doors in August and filed for bankruptcy protection. Solyndra was the first company to receive funding under a program the Obama administration promoted as creating jobs and making America a green energy technology leader. The Government Accountability Office found that the administration hadn't properly assessed the risk of Solyndra and four other renewable energy companies receiving portions of $38 billion in loan guarantees.

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