Economics
China-U.S. Tensions Rise as Subsidized Green Energy Struggles
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When solar-panel maker Solyndra LLC collapsed in September after winning a $535 million U.S. loan guarantee, President Barack Obama’s administration blamed China’s even bigger aid for its renewable-energy industry.
The China Development Bank Corp. in 2010 provided Solyndra’s Chinese competitors more than $30 billion in credit, dwarfing U.S. support for solar manufacturers as the price of polysilicon, the main material in solar cells, plummeted, Jonathan Silver, the Energy Department’s loan-guarantee chief at the time, told a House committee.