Is the Obama administration using a "drunken sailor" strategy when handing out solar scam loan guarantees backed by your hard-earned money?

BofA, US Renewables Back Part Of $1 Billion SolarCity Rooftop Project | Fox Business

Bank of America Corp. (BAC) and U.S. Renewables Group said Wednesday they will finance about one-third of a $1 billion project developed by SolarCity that could double the number of U.S. homes with rooftop solar-power generators.
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BofA's Merrill Lynch unit and private equity firm U.S. Renewables Group will provide a $344 million loan for the project. The U.S. Department of Energy said Wednesday it has offered a conditional loan guarantee for that loan.
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The companies said the loan guarantee was a vital component in putting the financing together. They were careful to note that the project has relatively low risk, compared to other DOE-backed projects.

The DOE has faced increased scrutiny over its loan guarantees, particularly to solar-product manufacturers, after one of them failed. Solyndra Inc., a California-based solar-product maker that obtained a $535 million loan guarantee and a $527 million government loan, filed for bankruptcy this week after a long struggle against falling solar-panel prices and larger, better financed rivals.
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The $344 million loan is similar to a $1.4 billion loan, also backed by a DOE loan guarantee, that BofA agreed to provide to NRG Energy Inc. (NRG) and ProLogis Inc. (PLD) to finance part of a $2.6 billion commercial rooftop solar project. That project, designed to generate about 733 MW, will entail installing solar-panel generators on the roofs of ProLogis warehouses in 28 states.

The DOE loan-guarantee program played a crucial role in making both solar deals possible, said Jonathan Plowe, head of new energy and infrastructure solutions at BofA Merrill.