The Obama administration and Jerry McNerney have touted green technology to lead this country out of recession. They attempted to pick winners in this country, lending hundreds of millions of taxpayer dollars to companies like Solyndra. We see the futility of these efforts. $500 million down the tubes, 1100 more workers laid off in our already shaky economy.
This is the second major solar company in the US to go bankrupt this month , Evergreen Solar in Massachusetts threw away another $400 mil+ gifted by Democratic lawmakers in that state, over the objection of Republicans., in addition to $100 mil+ in federal stimulus funds.
That's a billion dollars, folks. $1,000,000,000. That's just this month. Local governments in California, as noted in a San Jose Mercury story this month, are not purchasing American made solar panels, even for government projects. Web Link
The writeup highlights $18 mil savings over 25 years, and lowlight the $20mil cost of installing, which alone exceeds the savings. How about an analysis of the total cost of installing and maintaining these units over the 20 year period, including the cost to taxpayers of the interest on the bonds, since the taxpayers are paying for the whole thing?
It takes a little digging through County records to find that the contractors are using Chinese made solar panels Web Link
This is where the rubber meets the road in clean technology. The repeated failures of our elected officials to use taxpayer dollars wisely is obvious.