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Solyndra Loan Program Vilified by Republicans Turns a Profit

The U.S. expects to earn $5 billion to $6 billion from the federal program that funded flops including Solyndra LLC, bolstering President Barack Obama’s decision to back low-carbon technologies.

It’s the first time the Energy Department has released an estimate of the potential gains for the loan guarantee program, designed to back clean-energy projects when venture capital or financing from banks and other investors is unavailable. The department expects a loss rate of about 2 percent on $32.4 billion set aside for loans to spur energy innovation, according to a report today.