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The Sting in Biden's Green Loans Is Their Success

05 Jan 2024 | Abstracted from Bloomberg

"Republican efforts to slow the Department of Energy’s clean-energy loan program looks like pure politics.

"Republicans rarely, if ever, mention a $465 million loan made to a certain electric vehicle developer at a crucial moment in 2010. Tesla Inc. repaid its loan three years later, is now valued at almost $800 billion,

"LPO had issued $36 billion of loans or guarantees, of which $13.7 billion had been repaid, and had received $4.3 billion of interest. It had taken losses of just over $1 billion or about 3% of the amount disbursed, which is far better than the track record of cleantech venture capital..."



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