WASHINGTON ? A Republican House chairman is calling loans to the solar industry a poor bet and says it's reasonable to predict that the entire solar panel manufacturing business in America could collapse.
The chairman of the House Oversight and Government Reform Committee, California congressman Darrell Issa, is citing competition from China and other problems facing the American solar panel industry.
On Thursday, Issa released a report that says questionable accounting methods have been used to count "green jobs" and calls the term vague and poorly defined.
Issa says a $528 million loan to a now-bankrupt California solar energy company, Solyndra Inc., is just one example of the Obama administration's failed attempt to create green jobs. He says the loan was driven by appearances of political favoritism.
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