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Obama Rushes Through $1B In Solar Loans

From The Hill:

Energy Department approves $1 billion in solar energy loan guarantees

By Andrew Restuccia – 09/28/11

The Energy Department announced Wednesday that is has finalized more than $1 billion in loan guarantees for two separate solar energy projects…

DOE announced a $737 million loan guarantee to help finance construction of the Crescent Dunes Solar Energy Project, a 110-megawatt solar-power-generating facility in Nye County, Nev. The project is sponsored by Tonopah Solar, a subsidiary of California-based SolarReserve.

The Energy Department said the project will result in 600 construction jobs and 45 permanent jobs.

By our calculation that adds up to $16.3 million dollars per ‘permanent job.’ Which seems a bit steep, even by government standards.

“If we want to be a player in the global clean energy race, we must continue to invest in innovative technologies that enable commercial-scale deployment of clean, renewable power like solar,” Energy Secretary Steven Chu said in a news release. “Solar generation facilities, like the Crescent Dunes Solar Energy Project, help supply energy to local utilities and create hundreds of good, American clean energy jobs.”

At a mere $16.3 million dollars a piece, maybe we can’t afford to be a player in the global clean energy race. Or, maybe this isn’t the role of government. Maybe this is something that the private sector would do better.

The Crescent Dunes facility will generate power using concentrated solar power technology, in which a series of mirrors direct sunlight onto a receiver at the center of the plant.

Killing how many birds and insects in the process?

The Energy Department also announced that it had finalized a separate $337 million loan guarantee to Sempra Energy for a 150-megawatt photovoltaic solar-generation project in Arizona.

The project will result in 300 construction jobs, DOE said.

Temporary construction jobs, that will probably mostly go to illegal aliens.

The decision to finalize the loan guarantees comes just days before the Energy Department’s advanced energy loan-guarantee program, which was funded under the 2009 stimulus law, expires. The department is hoping to make a final decision on about 10 other projects by Sept. 30

In other words, the Obama administration is ramming through 12 boondoggles for its pals, while it still has the chance.

This article was posted by Steve on Thursday, September 29th, 2011. Comments are currently closed.

5 Responses to “Obama Rushes Through $1B In Solar Loans”

  1. BigOil says:

    You have to admit – the regime sure does not lack chutzpah.

    As each day goes by and it becomes more apparent Barry will go down in flames, expect the looting and tyrannical behavior to become increasingly brazen.

    Barry will make us long for the days when all we had to worry about was a Democrat president stealing everything inside the White House on their way out the door.

    • proreason says:

      I made a similar comment on another thread.

      It seems to be the Chicago way. You don’t like THAT? Well have a dose of THIS then.

  2. Chrispbass says:

    Hey why all the cynicism? It’s not like the administration has experience with the exact same scenario. Well maybe they do but it was a LONG time ago. Oh wait, it was last week.

  3. Rusty Shackleford says:

    If at first you don’t succeed, fail and fail again.

    But as Rush pointed out, it has nothing to do with “supporting green energy” companies. It has to do with money-laundering whereby the government, in the form of political operatives, give tax monies to companies that contributed heavily to the national-socialist campaign, then “process” said monies through the green company through the unions and so forth and voila, out the other end comes “squeeky clean” money to be used as the national-socialists see fit. Everybody wins!

    Except, of course the saps who are too stupid to know how to hide their money so the feds can’t tax it. (which is you ‘n’ me, by the way)

    Ain’t it a scream? I mean this is all so riotously funny. I’m having Coke come out of my nose I’m laughing so hard. Oh, wait, that’s blood….like someone just socked me a good one. Wonder how that happened…hmmmmm.

  4. merkelerk says:

    16.3 million dollars per job, but what about all of the homes and businesses that it will serve.
    Electricity consumers who will no longer have to burn fossil fuels and contribute to climate change?

    Let’s do the math….

    Average U.S.household electricity consumption is 10656 Kilowatt hours per year.
    This project will produce 110 megawatts.
    110 million watts divided by 10.656 million watts

    That gives us a grand total of 10 households served by this plant.

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