(Graeme Jennings/Pool via AP)WASHINGTON – As part of its clean-energy agenda, the Biden administration is reviving an Energy Department program that disbursed billions of dollars in loan guarantees to companies such as electric car maker Tesla and the failed solar company Solyndra, Energy Secretary Jennifer Granholm says.
AdThe program will be overseen by Jigar Shah, a longtime clean-energy entrepreneur who helped pioneer solar power in the U.S.
While Republicans are likely to focus on avoiding a repeat of Solyndra, Granholm, a former Michigan governor, said Tesla is a better example.
Still, the loan program overall has returned more than $500 million to taxpayers, “people paying back their loans with interest,'' Granholm said.
“I’m very excited about his leadership and about actually using the DOE loan program again,'' she said.