WASHINGTON – Have you seen the latest development in President Obama’s waste-ridden, clean energy program that’s now under federal investigation at the U.S. Treasury Department?
Three of the country’s biggest residential solar panel installers — SolarCity, SunRun and Sungevity — have been subpoenaed by Treasury’s Office of Inspector General for their financial records to determine if they had inflated the market value of their costs when they applied for federal reimbursement.
The firms have reportedly received more than $500 million in federal grants and tax credits. Officials in two of them, Solar-City and SunRun, have been among some of Obama’s most generous campaign donors.
The money these companies tapped into flowed from a $13 billion investment fund in Treasury that came from the president’s economic stimulus program which has poured huge sums of money into clean energy programs across the country.
Obama has sunk billions of tax dollars into a scandal-ridden swamp of other energy deals that were crafted and promoted by administration business cronies who also were among his biggest fundraisers.
After an exhaustive analysis of thousands of memos, company records and internal e-mails about Obama’s green-technology spending program, the Washington Post concluded that it was “infused with politics” at every level of the decision-making process. Political considerations dominated the White House’s deal-making and all too often overruled warnings that billions of tax dollars would be lost on shaky energy projects that should never have been approved.
Take, for example, Sanjay Wagle, a venture capitalist and one of Obama’s fundraisers in 2008. He left his firm in California to work in Obama’s Energy Department on a $40 billion spending program to stimulate the economy by investing in clean technology companies.