Tag Archives: renewable energy

Worlds Largest Solar Plant Applying for Federal Grant to Pay Off Its Federal Loan

 

Yet another solar project is in financial trouble. The renewable energy giant, NRG, and Google borrowed $1,600,000,000 ($1.6 billion) from the federal government to build a solar power facility in the Mojave Desert called Ivanpah. Since its start-up in December of last year (2014), the facility has only produced a little over 25% of the predicted electricity. Now the company wants to receive a grant (read that as your tax dollars) for $539,000,000 ($539 million) to pay off their federal loan with your money so that they do not have to use their own money.

 

This story is emblematic of all that is wrong with sustainable development policies because it contains so many of the typical green-scheme-gone wrong-elements such as 1)faulty data was used to predict an outcome (think Climate Change Model) , 2)crony capitalism was used to acquire a sweet deal from the federal government, 3) taxpayer dollars (aka grant money) are being used to reward a private company for poor performance, and 4)controversy over whether an environmental initiative actually helps the environment. For example in this case is the carbon footprint reduced enough by using solar energy to justify the death-by-frying of thousands of birds caught up in the intense rays of the solar facility? (Of course we know the carbon controversy is in itself a scam meaning the birds are being sacrificed for no good reason.)

To learn more about this latest green-scheme fiasco, click on this link.