Solar power absurd

Energy Secretary Chu -- an award-winning scientist -- plays "venture capitalist" with tax dollars

Tasking a Nobel Prize scientist to make investments for the U.S. government is like asking the manager of the New York Yankees to be general in charge of America's troops in Afghanistan. It's that absurd.

CBS News counted 12 clean energy companies that are having trouble after collectively being approved for more than $6.5 billion in federal assistance. Five have filed for bankruptcy: The junk bond-rated Beacon, Evergreen Solar, SpectraWatt, AES' subsidiary Eastern Energy and Solyndra.

Others are also struggling with potential problems. Nevada Geothermal -- a home state project personally endorsed by Senate Majority Leader Harry Reid -- warns of multiple potential defaults in new SEC filings reviewed by CBS News.


cbsnews

Drip, Drip, Drip: Yet Another Green Energy Stimulus Recipient Hits the Skids
...third this week!

Earlier this week, Stimulus beneficiary Evergreen Energy bit the dust. Then, Ener1, a manufacturer of batteries for electric vehicles and recipient of Stimulus largesse, filed for bankruptcy. And today, the Las Vegas Sun reports that Amonix, Inc., a manufacturer of solar panels that received $5.9 million from the Porkulus, will cut two-thirds of its workforce, about 200 employees, only seven months after opening a factory in Nevada.

Shovel ready...

Edited by Rogerdodger, 29 January 2012 - 01:03 AM.

The sun also rises -- thirty-eight percent so far on very NYSI run.

-- That's not a smiley face, that's the sun.

-- That's a smiley face.

Good luck and good trading.

http://stockcharts.c...2066&r=7476.png

How Expensive Green Energy Destroys Jobs

"When is a job not a job? Answer: when it is a green job. Jobs in an industry that raises the price of energy effectively destroy jobs elsewhere; jobs in an industry that cuts the cost of energy create extra jobs elsewhere.

According to a report from IHS Global Insight, the cheap shale gas revolution now in full flow has created 148,000 jobs directly within the gas industry and – by making energy cheaper – has created at least another 450,000 jobs elsewhere in the economy. By 2015, the total impact of shale gas will be 870,000 new jobs, says the report.

Each “green” megawatt installed destroys 5.28 jobs on average elsewhere in the economy: 8.99 by photovoltaics, 4.27 by wind energy, 5.05 by mini-hydro.


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Green Firms Get Fed Cash, Give Execs Bonuses, Fail

The Department of Energy helped finance several green energy companies that later fell into bankruptcy -- but not before the firms doled out six-figure bonuses and payouts to top executives, a Center for Public Integrity and ABC News investigation found.

To watchdogs, the pattern of firms awarding bonuses only to file for bankruptcy raises questions about how well the Energy Department chose its winners, and how thoroughly it kept an eye on them once selected.


abc news

China Gets Real -- Nuclear si, Solar no

China will accelerate the use of new-energy sources such as nuclear energy and put an end to blind expansion in industries such as solar energy and wind power in 2012, Chinese Premier Wen Jiabao says in a government report published on March 5.


http://www.electroiq...lear-power.html

Nevada green energy ‘investment’ at solar facility employs 5 workers

Copper Mountain Solar 1 plant, owned by San Diego-based energy company Sempra, was built in late 2010 at a cost of $141 million. Funding included $42 million in federal-government tax credits and $12 million in tax-rebate commitments from the state of Nevada.

Construction of the plant involved over 300 part-time jobs, but currently only five full-time employees operate the plant

Renewables have produced no lower energy costs. Instead, in late 2009, the city approved a 35 percent rate hike,


http://nevadajournal...ion-taxpayer-s/

The Sun must be setting: FSLR is down 140 points in 1 year from over 160 to 27!!!
Fairy Tales don't last forever.
Even when the government gives them our money for their scheme.

The sun also rises -- thirty-eight percent so far on very NYSI run.

-- That's not a smiley face, that's the sun.

-- That's a smiley face.

Good luck and good trading.

http://stockcharts.c...2066&r=7476.png

Edited by Rogerdodger, 22 March 2012 - 09:11 AM.

The Sun must be setting: FSLR is down 140 points in 1 year from over 160 to 27!!!
Fairy Tales don't last forever.
Even when the government gives them our money for their scheme.

The sun also rises -- thirty-eight percent so far on very NYSI run.

-- That's not a smiley face, that's the sun.

-- That's a smiley face.

Good luck and good trading.

http://stockcharts.c...2066&r=7476.png

Well, as far as the USA is concerned, that, alas, may be true. But while the USA clings to the past...

CHINA PLANS TO OWN THE FUTURE

It's no secret that when China makes products, it often sells them more cheaply than its competitors. The price differential stems from low Chinese wages, lax regulation and hefty government subsidies. The U.S. solar market has borne the brunt of China's aggressive efforts, with solar panel costs tumbling 80 percent in the past five years. The failures of Solyndra LLC and Evergreen Solar Inc. illustrate the toll falling prices have taken on solar-panel makers.

Spain, China, Germany etc are finding out -- Solar energy is a gigantic waste of capital

At the bottom of the energy efficiency barrel there lies solar – the most inefficient, least reliable and expensive form of power we have. Directly converting the sun’s rays into electricity is a horribly inefficient way to generate power simply because the energy – in that form – is so disperse. The energy density, in other words, is very, very low. There is no way to change that fact, or the fact that the sun doesn’t shine all the time.

Solar power is not and cannot be a major player in the direct generation of electric power. That is the simple, scientific reality.


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