Today, Fox & Friends claimed that Satcon, a solar company that recently filed for bankruptcy, received $129 million in "taxpayer cash." In fact, the company only received small research grants, which enjoy bipartisan support.
Satcon Technology, which makes parts for large solar power projects, recently filed for Chapter 11 bankruptcy protection. Satcon suffered from diminishing incentives in Europe and competition with European and American vendors in the $7 billion inverter market, but plans to continue operations.
This morning, Fox & Friends' "News By The Numbers" segment featured Satcon:
BRIAN KILMEADE: Next, $129 million. That's how much taxpayer cash went to solar company Satcon technology -- I hope I said that right -- but even that couldn't keep it afloat. It filed for Chapter 11 bankruptcy this week.