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Solar 3D CEO Jim Nelson on working with Mitt Romney at Bain Capital and why innovation is key to improving solar energy technology and reducing its co...
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-- industry giant First Solar announced major job cuts despite the issues this industry is saying.
We have someone who says the government should be getting more involved not.
In everything not with government loans for example but perhaps with some other things Jim Nelson is a CO solar 3-D joins us now -- a Fox Business exclusive.
To explain jam factor for coming in appreciate.
Let's first get Solyndra out of the way because that is a big issue that the whole public knows about how much of a dragnet was -- -- on the entire solar industry.
Well I think as a drag temporarily.
You know the fact is that Solyndra was a massive mistake.
But it was a mistake as a result of the system not as a result of the industry.
So what happened was that -- governments.
Because of his loan.
Guarantee program.
Was so excited about generating jobs from Solyndra.
That it took a hard look consent 53500.
Million dollars was a small price to pay for 11100 jobs.
-- and use specific before getting do what you think the government should be -- let's say what you think the government should get out of and that's the whole loan prayer program correct.
That's right the fact is that government is not equipped to make those types of decisions.
Let's take for example Solyndra who is located in the Silicon Valley which is the hotbed of venture capital.
And I'm sure many of the venture capitalist took a look at and that's -- -- and rejected it.
And the fact is government came back and -- The wrong incentives and the rock education in the wrong orientation.
Except as a -- as -- -- while bureaucrats picking winners and losers doesn't work is and it as simple as that.
It's a tough deal and and most important is the incentives.
They're wrong incentives and government that are essentially beholden to their elected masters okay but let's be honest about -- because the solar industry had been facing a downturn even without the Solyndra thing I mean there.
Everybody there was into trying to compete with the Chinese making panels was a loser right.
Well manufacturing is not the place where America's going to be great and solar.
It's it's innovation innovation is where America is great and has been great there's a long and rich tradition of it.
And it's going to be that way of solar as -- pressed forward so how does the solar energy go forward now be at least learn the lesson that trying to compete with the Chinese on solar panels doesn't work how does this all US solar industry go forward from here.
While the fact is that with innovation being the -- we are looking to decrease the costs of solar.
To those people who are going to buy it the only way to do that is through.
Innovation.
Finding finding technology that is going to reduce the cost of solar.
And one of the problems that America's tried to do it has been to pay money to get people to install solar.
-- never -- America will never be able to provide enough subsidy.
To to use cost non competitive.
Technology.
In in importance.
Rises in the American public well let's -- like I don't quite try to bribe Americans are buying Chevy -- that doesn't seem to be working -- -- leader does it I don't know let me just.
I I gotta ask you a couple of questions about Bain Capital if you don't mind because you were with Bain Capital did did you know Mitt Romney when you're there.
I was with Bain and company and yes -- -- hired me.
All OK that's that's that's knowing -- -- pretty well.
How do you think he would do is a manager the economy.
Well.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- And and I think that would be outstanding he knows how to solve problems that he understands the economy what was -- about his style because I understand when he left Bain Capital they very kind of went to a downturn they brought him back and he brought it back up again what was it about as silos so that what was the best that.
He's best at managing teams of Smart people to solve problems.
And I think that's exactly what we -- America Jim thank you so much for being here solar 3-D you gave us a good view of a -- 3-D view what's going on solar industry.
And I appreciate your comments have been as well thanks a lot Jim thanks did -- there.
