The collapse of Solyndra and the subsequent
federal investigation, branded by Republicans slavering for an end to green tech as "Solargate", has called into question the viability of renewable energy. House Republicans have called Solyndra typical of the White House's push for "pet alternative energy", wanting to end their green initiative and, evidently, send that money to oil companies instead. However, the anti-green element in Washington and their conservative punditocracy are missing the point. The point is that solar energy is the fastest growing industry in the country right now and, regardless of how one feels about alternative energy or environmentalism, the simple fact remains that it's one of our best hopes for stimulating job growth.
The average cost, according to a Lawrence Berkeley National Lab report, of solar panels and installation fell 17% in 2010, and as of June this year, has fallen another 11%. In addition, solar energy manufacturer's created a $1.9 billion trade surplus domestically, meaning the money created by solar manufacturing and installation in this country was sold overseas, creating a profit for solar manufacturers in this country. Compare that to oil, where we sport the highest trade deficit in three years with $50.2 billion losses each year from importing foreign oil. Solar energy, at least at this point, is a much smaller industry (clearly) than petroleum, but at least solar is American jobs creating American wealth. Furthermore, the solar industry's growth has not slowed in ten years despite the economic recession. In fact, if anything, it's quickened. Having grown, on average, 25% each year for the past ten years; including 102% in 2010 and an estimated 66% just in the first half of 2011. What the solar industry represents in this country is a growing demand, and an expanding industry to meet the it... both factors of a healthy economy. Read more about Solar Power Fastest Growing Industry In US