Another solar power scam goes bust

[The Green Barbarian]

Why does the NDP and the Green Party insist on continuing to push failed horribly expensive energy? Why do they keep lying about "sustainable jobs"? There is no such thing in an industry that requires insanely high and insanely stupid government support.

Another Taxpayer-Funded Cleantech Company Goes Bankrupt
Aquion Energy files for Chapter 11. Will Tesla's Gigafactory be next?

Named the 2016 North American Company of the Year by the San Francisco-based Global Cleantech Group just seven weeks ago, Pennsylvania battery maker Aquion Energy filed for Chapter 11 bankruptcy last week. The company makes a novel sodium-ion battery. Aquion joins the long list of failed cleantech companies that were backed by government grants and loans.

Most notoriously solar-cell manufacturer Solyndra went belly up in 2011 after receiving more than $500 million in federal loan guarantees from the U.S. Department of Energy. Back in 2010, I visited the vast Ener1 lithium-ion battery factory outside of Indianapolis. As I reported, the Department of Energy had awarded a $118.5 million matching grant to Ener1 to build the plant. In addition, Ener1 was given a state incentive package of $21.3 million and a Hancock County package valued at $48.6 million. In January, 2011 then-Vice President Joe Biden visited the Ener1 plant where he declared: "It's not the government doing this. It's the free-enterprise system. We're providing seed money, one-time deposit, man, so we can spur additional investment." A year after his visit Ener1 declared bankruptcy and later emerged a privately owned company. Similaly DOE-backed Beacon Power and A123 Systems also went bankrupt.

The Pittsburgh Post-Gazette reports that Aquion Energy had received a $5.2 million grant from the U.S. Department of Energy, plus $8.6 million in grants and another $8 million in loans from Pennsylvania's Department of Community and Economic Development (DCED). In return, Aquion promised the state it would create 341 new jobs on top of the 70 people it already employed. The company has evidently now laid off 80 percent of its 150 employees. The DCED is vowing to get the money it handed out to Aquion back. "Revenue recovered by DCED from companies that fail to live up to previous commitments will be reinvested to further promote economic growth in the Commonwealth," declared DCED communications director David Misner. (Here's an idea: How about just returning it to Pennsylvania's taxpayers?)

Government "investment" in novel battery manufacturers has so far failed. The outcome of the biggest investment of all is now pending: Tesla's Gigafactory outside of Reno, Nevada. In order to persuade Tesla to build the factory in Nevada, the state government has given the company a package of tax breaks worth $1.3 billion including tax credits worth $195 million which Tesla could sell for cash. Naturally, Tesla CEO Elon Musk defends his company's reliance on government largesse. Perhaps the Tesla battery plant gamble will pay off, but the precedents are not promising. One other plea: All states should agree to level the competitive playing field by collectively refusing to hand out tax breaks to rent-seeking companies.

http://reason.com/blog/2017/03/15/gover ... oser-again

[maryjane48]

um lol the person that wrote that also wrote this



http://reason.com/archives/2005/07/19/c ... ummer-camp


so there is that . a creatiionist lecturing on companies taking govt money and going broke . wheres his articles on waĺlstreet in 2008 ? they cost the americans hundreds of billions

[Queen K]

Can we throw horrible banks out with the bath water too?

Look at all the bankruptcies....just like solar tech industries

https://en.wikipedia.org/wiki/List_of_b ... _Recession

J/K, this is about solar technology, therefore I'll post this,

http://www.cansia.ca/

and,

http://www.oksolarhomes.com/?gclid=CjwK ... oClYfw_wcB

[Jlabute]

Europes largest solar company goes bust

https://wattsupwiththat.com/2017/05/12/ ... -in-smoke/

[Drip_Torch]

Why do the liberals insist on continuing to push failed horribly expensive energy like LNG? Why do they keep lying about "sustainable jobs"? There is no such thing in an industry that requires insanely high and insanely stupid government support.

Not only are LNG companies receiving a deeply subsidized electricity rate, but the power needs of northeastern B.C.’s fracked gas fields and LNG plants have been used to justify the construction of the $8.8 billion Site C dam — which is also being built with public money.

“The B.C. government is building an expensive dam we don’t need in order to offer subsidies to fracking and LNG companies, with BC Hydro ratepayers footing the bill for generations to come,” Vernon said.
The corporate handouts don’t end there. In return for access to British Columbia’s resources, oil and gas companies are expected to pay royalties. However, the B.C. government has been waiving much of these royalty payments — a practice called giving “royalty credits.”

In 2016, the B.C. government handed out $348 million in royalty credits and approved the carry-over of more than $520 million in future royalty credits by oil and gas producers, according to the Sierra Club report.

When those liabilities are applied to the earnings from 2016, oil and gas revenues were in the negative by $365 million.
“In other words, if you factor in future lost royalty revenue because of subsidies allocated in 2016, the natural gas sector actually cost the B.C. government, and therefore B.C. taxpayers, a million dollars per day in fiscal year 2016,” reads the report.

https://www.desmog.ca/2017/03/27/b-c-li ... ors-report

Germany Breaks A Solar Record — Gets 85% Of Electricity From Renewables

http://cleantechnica.com/2017/05/08/ger ... enewables/

[Drip_Torch]

... and to be honest with you GB (cause that's what we're doing here - right?) I don't yet have an opinion on the site C dam project.

I'd prefer to wait until I can read the B.C. Utilities Commission assessment first. I get it though, you'd prefer to see multi-billion dollar project decisions made solely on the basis of politics.

[Omnitheo]

I can't wait to see these.

[Jlabute]

There are all sorts of estimates for an Elon roof. $73,000 and then a power wall on top of that is too much for a 30 year panel lifespan.

http://www.consumerreports.org/solar-pa ... olar-roof/

[Bsuds]

There are all sorts of estimates for an Elon roof. $73,000 and then a power wall on top of that is too much for a 30 year panel lifespan.

http://www.consumerreports.org/solar-pa ... olar-roof/

Pretty much all technology is expensive when it first comes out. I paid $750 for my first VCR and Microwave. Look how cheap they are now. Solar shingles will come down in price in time.

[The Green Barbarian]

um lol the person that wrote that also wrote this

um, why is that relevant? Um...are you you saying that Aquion didn't go bankrupt? Um..are you trying to deflect from the topic for some reason? Umm lol who cares what else they wrote.

But it does bring up a valid point. Why isn't the mainstream media covering this story? Why isn't the public being made aware of yet another solar power/battery scam going down with mega-millions of taxpayer cash? This is horrible news, and of course, something that the Solar and Wind shysters don't want you to know.

[The Green Barbarian]

Can we throw horrible banks out with the bath water too?

banks have proven that with proper regulation, they have a sustainable business model. Solar and wind do not.

[The Green Barbarian]

Why do the liberals insist on continuing to push failed horribly expensive energy like LNG?

because LNG is sustainable, solar and wind power, are not.

[The Green Barbarian]

. Solar shingles will come down in price in time.

Great. Get the taxpayer cash out of the business, and let solar and wind "come down in price in time" on their own dime. The government didn't pay for your $750 VCR, so why should they pay for your over-priced solar panel?

[The Green Barbarian]

Germany Breaks A Solar Record — Gets 85% Of Electricity From Renewables

http://cleantechnica.com/2017/05/08/ger ... enewables/

This is a great article in that it points out how much power is coming from hydro-electric power in Germany, which this article calls "renewable" energy. If you include hydro-electric power in the renewable category, then BC is probably doing better than Germany in this category. And that's why I don't get the NDP and Greens pushing far more expensive and far more idiotic power sources like solar and wind. Kick those two sources to the curb, get behind Site C, and try and put the people of BC first, at least ahead of solar and wind power lobbies and big Green US interests. Let's be like Germany everyone, and embrace hydro electric, renewable, sustainable energy.

[Smurf]

I might have missed it but no where in that article did they try to compare to hydro electricity. The charts and everything avoid that comparison because they know how bad it makes their alternatives look. As you say GB they include hydro in renewables as does most of the world. I believe it is an accepted standard the world over.