Solyndra executives also neglected to perform a proper cost analysis on their procedures. According to solar industry analyst Peter Lynch, the factory spent $6 per device. To remain competitive, they would have to resell it at $1 to $3 per device. The mass scores of defective product aside, Solyndra's business model wouldn’t even cover half of its costs.
The more we learn about the company, the harder it is to believe that such a waste of taxpayer money could occur. To review, without real demand to prop it up Solyndra's business model laid precariously on a presumption of high commodity prices for competitors. Creating products, many of which didn't even work, Solyndra soon found itself backlogged with overly expensive inventory. Fifteen months of decline later, Solyndra filed for bankruptcy protection on Sept. 6th. 1,100 jobs "created or saved" by Obama's stimulus package went with it.
As for the factory itself, taxpayers are stuck with it for the time being, a harrowing reminder for anyone driving down Interstate 880 in Fremont, California.
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