When taxpayers lost more than a half-billion dollars on the failed solar manufacturer Solyndra, they were understandably upset. But Solyndra isn’t the only corporate body in the graveyard of green bankruptcies. And more are surely on the way. Over a decade ago Congress created a loan-guarantee program that allows the Department of Energy (DOE) to gamble taxpayers’ money to promote “clean” energy projects. The 2009 stimulus package created a new loan-guarantee program that expanded the pot of money available. Many of the companies taking advantage of the program also rake in a wide assortment of other state and federal tax...