The very public failure of energy company Solyndra has focused a lot of attention on the Department of Energy’s loan guarantee programs. Beyond Solyndra’s failure, it’s interesting to take a closer look at these programs in order to understand what economic benefits, if any, they have conferred upon the American jobs market, says Veronique de Rugy, a senior research fellow at the Mercatus Center. … The 1705 program (under which Solyndra received funding) deserves particular attention. This program is a product of the economic stimulus bill of 2009, and follow-up data shows just how wasteful this investment truly was.

• Under the 1705 program, 26 projects were funded with guaranteed loans amounting to roughly $16 billion in total.

• Some 2,378 permanent jobs were claimed to be created under the program.

• This works out to a potential cost per job of $6.7 million.

• The single largest recipient, NRG Energy Inc., received $3.8 billion (23.7 percent of the overall amount guaranteed under the 1705).

• Four companies received 64 percent, or $10.3 billion, of the total amount guaranteed under the 1705 program.

Read More: US News & World Report