The Obama administration gave “billions in handouts to green companies like Solyndra, which went bankrupt.”

Claim: The Obama administration gave “billions in handouts to green companies like Solyndra, which went bankrupt.”

Ad(s): On the Hook

Sponsor(s): American Future Fund

Air Dates: Apr. 24-28, 2012

Total Estimated Spending On This Claim:  $307,173

 

FactCheck’s Summary: These are federally guaranteed loans, not free “handouts” – although in Solyndra’s case the company did file for bankruptcy and taxpayers are on the hook for most of the $535 million it borrowed. The Energy Department has committed $34.7 billion to nearly 40 projects under the low-interest loan   programs, according to information published on its website. Two of them – Solyndra ($535 million) and Beacon Power Co. ($43 million) – have filed for bankruptcy, according to a March 12 report by the Government Accountability Office. That’s a total of $578 million, or less than 2 percent of the total program. Click here to read more