Issa: There could be more Solyndras

If other solar companies go the way of Solyndra, the federal government would be responsible for billions of dollars in loan guarantees approved under the Obama administration, Issa said.

“We could potentially have every solar panel company go out of business, and that’s multiple Solyndras that we’re going to find ourselves on the hook for,” Issa said.

{mosads}The U.S. solar industry faces a number of challenges, including plummeting solar-panel prices, lower demand in Germany and Italy, uncertainty surrounding government incentives and major competition from countries like China, which have invested billions in the industry.

But many analysts say doomsday predictions about the industry are overly simplistic.

The solar industry released a report earlier this week showing that solar panel installations were up nearly 70 percent in the second quarter of 2011, compared to the same period last year. A separate report showed that solar industry jobs are increasing.

The administration, for its part, has stood by the solar industry — and the renewable energy sector more broadly — arguing it holds the key to economic growth and job creation.

Still, Republicans are raising concerns about the Energy Department’s loan guarantee program for advanced energy technologies like solar and biofuels.

The department has said it is in the process of finalizing as many as 14 additional loan guarantees by the end of the month, more than half of which are for solar projects.

{mossecondads}Deputy Energy Secretary Daniel Poneman said Thursday that the department will not finalize any loan guarantees without subjecting them to detailed analysis.

Citing the Solyndra incident, Issa said earlier this week that his committee is investigating the administration’s loan programs. But, he said, the panel likely won’t hold any hearings on the issue this year.

“We have a very ambitious hearing schedule. We don’t currently have hearings planned on it,” Issa said. “And between full committee and subcommittee, we’re guessing that we may not be able to get to a specific hearing on this before the end of the year.”

Issa said he would “push my subcommittee chairmen to see if they can fit more in, assuming we have the resources.”