Treasury investigating solar program that turns tax credits into cash grants
WASHINGTON — The Treasury Department's inspector general is investigating a popular stimulus program that allowed rooftop solar panel projects to turn tax credits into cash grants, according to a regulatory filing.
The Treasury's internal watchdog is looking at how the department managed the program and is searching for “possible misrepresentations” about the fair market value of solar systems that received grants, one large installer of solar panels said in its filing with the Securities and Exchange Commission.
The inspector general issued subpoenas to SolarCity Corp. and other big players in the market, working with the Justice Department's civil division, San Mateo, Calif.-based SolarCity said in its initial public offering filing last week.
The probe could fuel further criticism of President Obama's clean energy initiatives that have come under fire for spending taxpayer money on unproven companies, including Solyndra, a solar panel maker that went bankrupt last year after receiving more than $527 million under a separate government program.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Kentucky county clerk Davis jailed for stand on same-sex marriage licenses
- Clinton aides pressed former State worker Pagliano to testify on use of email
- Video may provide clues in manhunt for officer’s killers in Illinois
- Railroads get 6-month pass on leaky cars
- Prosecutor to seek death penalty in South Carolina church shootings
- Former Corinthian College students seek relief
- Virginia cop indicted in man’s slaying
- 9 military labs halted amid fears over toxins
- Gitmo terror recidivism rate increases
- VA enrollment data labeled unreliable
- House panel sets hearing on Planned Parenthood