Good news: Fed govt making yet another solar “investment” on our behalf

posted at 4:01 pm on September 29, 2012 by Erika Johnsen

Because the Obama Department of Energy’s loan-guarantee program for renewable energy startups and technologies has been such an unmitigated and resounding success, most particularly their well-trumpeted “investments” in solar-panel manufacturers, the federal government’s good common sense and dispassionate judgment have proved it to be a leading force in encouraging the research and development that has made these environmentalist-preferred technologies such viable and competitive substitutes for traditional energies. What’s more, these promising new industries have created untold productive, private-sector jobs, and the taxpayer has seen a healthy and enriching return on their initial “investments.”

…Just kidding — that didn’t happen. Multiple of the DOE’s chosen loan recipients are ailing, failing or bankrupt; the taxpayer has incurred substantial socialized losses; and still the federal government insists on fancying itself a venture-capital firm hell-bent on amassing an undiversified, highly risky portfolio based on politics rather than free-market potential. But, hey, what’s a few billion dollars here and there when the faceless taxpayer is the one on the hook? Via Fox News:

SoloPower held its grand opening Thursday in Portland, Ore., with speeches from local politicians and a ribbon-cutting. “It really revolutionizes rooftop applications, and it makes solar both easy and cost effective for nearly any commercial and industrial building worldwide,” CEO Tim Harris said.

SoloPower closed on a guaranteed government loan of $197 million last August, about the time another solar panel manufacturer, Solyndra, filed for bankruptcy. …

Industry analysts are not optimistic about SoloPower’s prospects.

“It’s questionable at this point,” says Andrew Soare of Lux Research, “It’s uncertain if solar power will be able to produce efficiently and economically at scale. It’s something that has not been done yet, and it’s still risky.” …

SoloPower expects to start spending the taxpayer money late this year.

With rampant evidence of this company’s wildly uncertain future (a.k.a., likely impending doom) the DOE decides to just forge on ahead anyway — how very magnanimous of them. The House GOP just tried to put the brakes on the DOE’s loan program with the No More Solyndras Act, but of course, that’s nothing doing in the Senate right now.

I don’t care if any of the DOE’s “investments” turn out to be a success, or if the administration has budgeted for defaults — the federal government should absolutely not be in the business of budgeting for defaults with our money. There is an entire private-sector business world out there that does this kind of thing, and they have absolutely no prejudice for or against green technology. Their only concern is making money, and that is a good thing: People make money when they offer a good, viable product that other people voluntarily choose to buy because it works, not because the federal government deems it worthy.

There are a few (a few, mind you) things that the federal government does better than the private sector — national security and an impartial judiciary system spring to mind — you know, the type of things spelled out in our Constitution. This, is not one of those things. If the private sector isn’t making the investments in these renewable energy companies, there is a very good reason why, and it is most definitely not the government’s affair to try and step in and do it for us.


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*headdesk*

pambi on September 29, 2012 at 4:06 PM

it will never end if he gets a 2nd term…

Drunk Report on September 29, 2012 at 4:08 PM

Chu is a perfectly eunuchy symbol for Obama.

These weakling thugs will destroy you.

Wake the Fluke up, America.

Schadenfreude on September 29, 2012 at 4:08 PM

it will never end if he gets a 2nd term…

Drunk Report on September 29, 2012 at 4:08 PM

Yes, it will, completely.

Schadenfreude on September 29, 2012 at 4:09 PM

…why isn’t choo chew in jail?

KOOLAID2 on September 29, 2012 at 4:11 PM

….that’s stealing!

KOOLAID2 on September 29, 2012 at 4:12 PM

Some good in-depth reporting by the Washington Post on this.

Oh, wait. Never mind.

spiritof61 on September 29, 2012 at 4:12 PM

Their only concern is making money, and that is a good thing: People make money when they offer a good, viable product that other people voluntarily choose to buy because it works, not because the federal government deems it worthy.

You know, one of the things stated with not having a gold standard is that money is “just a medium of exchange”. Now, that is used by progressives to promote loose money policies and currency manipulation. But, view that from a conservative standpoint. The venture capitalists are simply using a medium of exchange as a mechanism to develop technologies, products, or businesses that have a good future. Those technologies, products, and services also have an intrinsic value that should determine how worthy they are of being infused with that medium of exchange. If the potential return is not there, they won’t be supported.

When the government steps in, it throws everything out of kilter by supporting ventures that even high-risk venture capitalists won’t touch. In addition to wasting resources, the government interference often causes disruptions in adjacent and competing products by providing government support of a loser product.

AZfederalist on September 29, 2012 at 4:13 PM

To yet ANOTHER sham / shell company run by major Obama donors.
It’s a massive cycle of kickbacks / money laundering, being run with OUR tax money (and our grandchildrens’)

rayra on September 29, 2012 at 4:14 PM

Is there any doubt this tyrant will be impeached by the House in a 2nd term–on multiple allegations….please Lord let us take the Senate, as well…

hillsoftx on September 29, 2012 at 4:15 PM

At least we can take comfort that the GOP is screaming at the top of their lungs over this clusterfark investment of our tax dollars.

Oh wait.

fogw on September 29, 2012 at 4:15 PM

Oh wait.

fogw on September 29, 2012 at 4:15 PM

Hey, you ABR nutter! Get a grip over yourself!

Schadenfreude on September 29, 2012 at 4:17 PM

*headdesk*

pambi on September 29, 2012 at 4:06 PM

Me, too.

Ridiculous…

98ZJUSMC on September 29, 2012 at 4:20 PM

Hey, you ABR nutter! Get a grip over yourself!

Schadenfreude on September 29, 2012 at 4:17 PM

I’m running out of hair and tequila.

fogw on September 29, 2012 at 4:22 PM

Hmm, when Mittens invests in private companies, he’s an evil out of touch capitalist.
When Dear Liar does the exact same thing, it’s a noble endeavor even when it fails.

This is criminal at this point.

rbj on September 29, 2012 at 4:22 PM

Yeah, and under noted Commie, Dwight D. Eisenhower, the top rate was over 90%.

During that time, the economy expanded, and the socialist government constructed the Interstate Highway System.

http://news.yahoo.com/eisenhower-obama-wealthiest-americans-pay-taxes-193734550–abc-news.html

inklake on September 29, 2012 at 2:35 AM

The Interstate Highway System was built with gasoline tax, not federal income tax, you lefty idiot trying your best sleigh of hands.

GDP growth under Eisenhower was about 2.4%, less than the 4% under Truman. Eisenhower’s main economic emphasis was cutting spending and reducing the national debt. Are lefties like you in favor of that? And had Barry even made the slightest attempt along those lines?

There were 3 recessions under Eisenhower, but somehow those escaped your propaganda rant.

bayview on September 29, 2012 at 3:09 AM

The gas tax was a federal tax. Yes, it wasn’t an income tax, which probably would have been better, as otherwise, it hurts poor people the most, while everyone benefits from the Interstate system.

Under Eisenhower, debt went down as % of GDP versus the Truman administration.

Countries with a higher marginal tax rate, national health service, and lower debt include, Sweden, Norway, and Canada.

I’m going to enjoy checking in on this message board in 39 days.

inklake on September 29, 2012 at 8:14 AM

A dishonest troll like go-jump in the lake was caught in his lie implying the federal income tax rate under Eisenhower led to building of projects like the Interstate Highway System, and had no answer.

Nor did he answer the question whether Barry should follow Eisenhower emphasis on cutting spending and reducing debt.

He offered up Sweden, Norway and Canada as examples of countries with high tax rate that are doing well, without mentioning that all were struggling until they actively cut their high income tax rate. And they have rather small homogenous population, and not afraid to use the natural resources like oil.

Yes Barry may win in 39 days, but you can build your socialist exploitation system without me. I have gone Galt and you can kiss my ass before you jump back into the dried and inky puddle.

bayview on September 29, 2012 at 4:23 PM

Serious question, since I just don’t know …. are there ANY solar companies that are making money ?
Any ??

pambi on September 29, 2012 at 4:24 PM

There are a few (a few, mind you) things that the federal government does better than the private sector — national security and an impartial judiciary system spring to mind — you know, the type of things spelled out in our Constitution.

Not for long. The Judiciary is at least 60% rigged left and the upper strata of the non-combatant Military is decidedly liberal. If not for our massive technology edge, and it is a wide gulf, we would be in trouble.

98ZJUSMC on September 29, 2012 at 4:25 PM

Obama: Put everything on thirty-seven black!

Croupier: Sir, the roulette wheel only goes up to thirty-six.

Obama: Don’t tell me my business. Thirty-seven black and let it ride!!

Left Coast Right Mind on September 29, 2012 at 4:26 PM

So who at SoloPower are the big Øbama donors?

petefrt on September 29, 2012 at 4:27 PM

Election Day cant come soon enough for me

jaywemm on September 29, 2012 at 4:29 PM

Sweden, Norway and Canada

Not to mention:

1. Small populations related to land mass.

2. Lucrative energy (read: Oil) deposits. Leading to:

3. Relative or complete energy self-sufficiency.

98ZJUSMC on September 29, 2012 at 4:29 PM

I’m running out of hair and tequila.

fogw on September 29, 2012 at 4:22 PM

Nails and etc…but hang in there.

The fat lady (sure I could mean Michelle Obama) hasn’t sung, yet.

Schadenfreude on September 29, 2012 at 4:30 PM

And they have rather small homogenous population, and not afraid to use the natural resources like oil.

Yes Barry may win in 39 days, but you can build your socialist exploitation system without me. I have gone Galt and you can kiss my ass before you jump back into the dried and inky puddle.

bayview on September 29, 2012 at 4:23 PM

Apologies bayview, you already mentioned those.

I skipped those first go around. :-(

98ZJUSMC on September 29, 2012 at 4:33 PM

Where the hell is Miss Prissy (Speaker Boehner) to shut this crap down. He’s the one with the checkbook in hand and should CLEARLY sat No More Money. NOW!

riddick on September 29, 2012 at 4:34 PM

Serious question, since I just don’t know …. are there ANY solar companies that are making money ?
Any ??

pambi on September 29, 2012 at 4:24 PM

A few, just. BUT… And there is always a BUT, isn’t there, the only way they can show they are making money is when our corrupt energy companies pay super inflated rates for this, sometimes more than 75% more than a more traditional power generation (water, coal, nuclear).

riddick on September 29, 2012 at 4:36 PM

Where the hell is Miss Prissy (Speaker Boehner) to shut this crap down. He’s the one with the checkbook in hand and should CLEARLY sat No More Money. NOW!

riddick on September 29, 2012 at 4:34 PM

I’m not certain, so maybe someone can straighten me out if wrong …
isn’t this already-allotted stimulus $$ ???
Just not sure.

pambi on September 29, 2012 at 4:38 PM

…….even though the crony capitalism (by the way, 90% of the voters could not explain this term)continues.

Likely voters apparently don’t care about doubled gas prices, home prices that are 10% lower on average, higher food prices, restrictions of all kinds on energy production, the Middle east in a shambles with Americans dying at 2x the rate under Obama than they did under Bush) and that the Fed is buying our debt. LV’s also don’t care about $16 trillion in debt.

They also don’t care about executive orders out the wazoo, and they don’t care about their healthcare or Death Panels coming up for them or their grandkids.

But they love Michelle and her toned arms, and that their President and FLOTUS are cool enough to hang with Beyonce and Jay-Z. They also love his smile, and his likeability. The Likely voters also love their new Obamaphones, they love millions on welfare not having to work and they love him stiffing all of our old allies and getting ready to completely disarm America in a 2nd term (when he has more flexibility).

If all that is true………….?

Solyndra and it’s clones are the LEAST of our worries.

TEATERNAMI or TEANAMI? you decide America.

PappyD61 on September 29, 2012 at 4:38 PM

It’s a massive cycle of kickbacks / money laundering, being run with OUR tax money (and our grandchildrens’)

rayra on September 29, 2012 at 4:14 PM

No one in GOP has the balls to call it what it is, as you nailed it. No accounting at all for the more than TRILLION DOLLARS already vanished via TARPs. And more to follow, with GOP being complicit.

riddick on September 29, 2012 at 4:38 PM

And just think, he’ll be UNFETTERED in term #2! Let that marinate in your mind for a minute…..If that doesn’t scare the snot of ya, nothing will.

Sasha List on September 29, 2012 at 4:39 PM

riddick on September 29, 2012 at 4:36 PM

Thanks.
OY.

pambi on September 29, 2012 at 4:40 PM

mmmmmmmmmmmm bacon!

http://screen.yahoo.com/bacon-festival-takes-over-kansas-city-30654732.html

davidk on September 29, 2012 at 4:41 PM

I’m not certain, so maybe someone can straighten me out if wrong …
isn’t this already-allotted stimulus $$ ???
Just not sure.

pambi on September 29, 2012 at 4:38 PM

Should not matter one iota. Now that we all know this is simply a Ponzi scheme and nothing else, by any definition, GOP should step in.

I am sure banks in the Caribbean are hiring like crazy. 12 million jobs, here we come…

riddick on September 29, 2012 at 4:41 PM

This is an engineering issue, not a capital issue. If solar technology can be made efficient enough, the capital part will take care of itself with no subsidies required.

Government “investment” in solar, if any, should be for basic research and development of better technology, not deployment of existing inefficient solar technology.

ZenDraken on September 29, 2012 at 4:43 PM

And just think, he’ll be UNFETTERED in term #2! Let that marinate in your mind for a minute…..If that doesn’t scare the snot of ya, nothing will.

Sasha List on September 29, 2012 at 4:39 PM

Not sure who you are trying to convince. Its not us that have to be, it the “Obamaphone” crowd and they seem to be winning, numbers wise.

riddick on September 29, 2012 at 4:43 PM

Pelosi’s family got a more than $400 Million recently to build yet another solar farm in NV, strange that no one is talking about it. Idiot Twins (Boehner and McConnell) are very silent on almost every issue.

riddick on September 29, 2012 at 4:45 PM

Sasha List on September 29, 2012 at 4:39 PM

Shoot, I’m even worried about the lame duck session !!
Eek.

pambi on September 29, 2012 at 4:48 PM

This administration is stuck on stupid.

rplat on September 29, 2012 at 4:49 PM

Pelosi’s family got a more than $400 Million recently to build yet another solar farm in NV, strange that no one is talking about it. Idiot Twins (Boehner and McConnell) are very silent on almost every issue.

riddick on September 29, 2012 at 4:45 PM

They get the reigns of power next. Why do you think Newt Gingrich was sanctioned in the house? Because he cut the power the congress had with the Contract with America that he took seriously. They were afraid next term he would get the balanced budget amendment done.

astonerii on September 29, 2012 at 4:50 PM

It’s over. Obama won.

Schadenfreude on September 29, 2012 at 4:51 PM

This administration is stuck on stupid.

rplat on September 29, 2012 at 4:49 PM

And this is why we are all so f***ed!

No, the administration is not stuck on stupid, everything they do is more than deliberate. And the sooner we all understand this the better off we all will be. Stop treating them as stupid, its WE who ARE STUPID for letting them get away with all of this, time after time, day after day. They know exactly what they are doing, they simply do what communists in Russia did a century ago, via a well defined and proven book.

riddick on September 29, 2012 at 4:53 PM

They get the reigns of power next. Why do you think Newt Gingrich was sanctioned in the house? Because he cut the power the congress had with the Contract with America that he took seriously. They were afraid next term he would get the balanced budget amendment done.

astonerii on September 29, 2012 at 4:50 PM

You’re preaching to the choir. Guess who were the 2 of 10 GOP members who staged the “elimination” of Newt? BOEHNER. And GRAHAM. How did that turn out for us?

riddick on September 29, 2012 at 4:55 PM

Three-word solution: GROW BALLS. DEFUND.

Archivarix on September 29, 2012 at 4:55 PM

Three-word solution: GROW BALLS. DEFUND.

Archivarix on September 29, 2012 at 4:55 PM

Good one. Balls and Boehner just don’t go in same sentence.

riddick on September 29, 2012 at 4:57 PM

Yeah, and under noted Commie, Dwight D. Eisenhower, the top rate was over 90%.

During that time, the economy expanded, and the socialist government constructed the Interstate Highway System.

http://news.yahoo.com/eisenhower-obama-wealthiest-americans-pay-taxes-193734550–abc-news.html

inklake on September 29, 2012 at 2:35 AM

Okay, why doesn’t the Federal government just take everyone’s money and give us a stipend every month, then everything will be fair, and everyone will have the same stuff.

OH WAIT……..some will waste their money/cards on drugs. Some will spend too much on their car, someone will blow it at the Casino. Someone will spend it on a big new coffee table and then not have enough to pay their power bill.

EVEN IF…..you took EVERYONES’ MONEY there would still be inequality of outcomes. And in all of recorded human history there always has been and ALWAYS WILL BE. Capitalism just embraces that natural human law.

And you know something else, Capitalism will NEVER GO AWAY. Because even in the dank recesses of a gulag in Siberia one prisoner is always willing to make a deal for a cigarette, on one street corner in Louisville a kid is selling lemonade and a Granny in Possum Holler is going to have a garage sale. Even if the government outlaws it, trade will continue (for prrrrrrrrrofit).

Embrace Capitalism.

PappyD61 on September 29, 2012 at 4:57 PM

It’s over. Obama won.

Schadenfreude on September 29, 2012 at 4:51 PM

So Obama’s masks outsell Romney’s mask. No big secret there. 2013 is the Year of the Snake, remember?

Archivarix on September 29, 2012 at 4:57 PM

You’re preaching to the choir. Guess who were the 2 of 10 GOP members who staged the “elimination” of Newt? BOEHNER. And GRAHAM. How did that turn out for us?

riddick on September 29, 2012 at 4:55 PM

You may be well informed… I just want to make sure other’s are.

This site is not so much Conservative any more. it is more establishment power hungry popular click oriented. It is like the Democrats took over almost.

Anyways. I am detested around these parts :)

astonerii on September 29, 2012 at 4:58 PM

As many have said, many times…It’s not just Obama that needs to go….His entire administration is loaded with limp wristed a$$holes like this, outright crooks, like Geitner, Sebelius and Holder, or wymins like Nepalitano with a giant chip on their sholder…

These losers need to be famous for the next 40 days..

BigWyo on September 29, 2012 at 5:00 PM

500 million there and 200million there pretty soon you are talking about some real money.

jukin3 on September 29, 2012 at 5:07 PM

I don’t care if any of the DOE’s “investments” turn out to be a success, or if the administration has budgeted for defaults — the federal government should absolutely not be in the business of budgeting for defaults with our money. There is an entire private-sector business world out there that does this kind of thing, and they have absolutely no prejudice for or against green technology. Their only concern is making money, and that is a good thing: People make money when they offer a good, viable product that other people voluntarily choose to buy because it works, not because the federal government deems it worthy.

This is Obama begging for relection from his increasingly disgruntled Hollywood-DNC-activist followers who really, really, really NEED him to be busy doing solar, wind, anything “green”.

Noting, however, that that same follower base will never, never, ever ‘allow’ anything like that to mire their views.

Lourdes on September 29, 2012 at 5:08 PM

These losers need to be famous for the next 40 days..

BigWyo on September 29, 2012 at 5:00 PM

Feel free to share your ideas, last I heard Communist Media is on the other side.

riddick on September 29, 2012 at 5:08 PM

Feel free to share your ideas, last I heard Communist Media is on the other side.

riddick on September 29, 2012 at 5:08 PM

I think Fox News is on their side. They probably get better ratings with a democrat in office.

astonerii on September 29, 2012 at 5:09 PM

As I have suggested before, the government should not be doing these “investments”. If the government does so, we need a law that requires the government decision makers on these deals to invest 35% of their net worth along side the taxpayer. I suspect with their own money on the line we might see different decisions being made.

Over50 on September 29, 2012 at 5:12 PM

Election Day cant come soon enough for me

jaywemm on September 29, 2012 at 4:29 PM

Yes. Waiting is tough. This is the first election that I’ve felt the Loom of Impending Doom if it gets Obama back in office.

It’s certainly a national emergency, this election.

Lourdes on September 29, 2012 at 5:17 PM

Oh Lord! Who’s the Obama Bundler running this scam? The only thing the DOE is budgeting for, is the Donations to the Obama campaign or SuperPac these Scam Artists are paying back to!

Update for those following,How to take on the Obama Enemy media: http://paratisiusa.blogspot.com/2012/09/an-open-letter-to-those-who-should-know.html?spref=tw

God Bless America!

paratisi on September 29, 2012 at 5:17 PM

As I have suggested before, the government should not be doing these “investments”. If the government does so, we need a law that requires the government decision makers on these deals to invest 35% of their net worth along side the taxpayer. I suspect with their own money on the line we might see different decisions being made.

Over50 on September 29, 2012 at 5:12 PM

The effective course of government WOULD BE, contrary to Obama’s crazy dictator rendition of government, to get out of the way and ALLOW the private sector to do what it does best: create and manage commerical enterprises on it’s own without government intrusion, threats and intimidations (not to mention financial penalties as intimidation and threats).

This is how and why our nation came to be in the first place: freedom from government intrusion, domination, intimidation, coercion, financial penalty…

The best OUR government can do is get out of the way and leave us, the People, alone.

Energy enterprises will be made as per opportunities and need. Not by people like Chu and Obama, who never created an energy enterprise in his life nor has the abiliity to do so.

Lourdes on September 29, 2012 at 5:21 PM

And why shouldn’t the forge ahead, it’s not their money. At least we won’t be able to point to another solar company failure, BEFORE the election so, no matter how many millions are wasted, it’s worth it.

I still wonder, if all this investment in solar was spent, instead, on converting old coal plants to natural gas, wouldn’t we have actually accomplished something for the energy sector? I’ll be glad when we have a president who really has an energy POLICY, rather than an energy ideology.

bflat879 on September 29, 2012 at 5:22 PM

Oh Lord! Who’s the Obama Bundler running this scam? The only thing the DOE is budgeting for, is the Donations to the Obama campaign or SuperPac these Scam Artists are paying back to!

Update for those following,How to take on the Obama Enemy media: http://paratisiusa.blogspot.com/2012/09/an-open-letter-to-those-who-should-know.html?spref=tw

God Bless America!

paratisi on September 29, 2012 at 5:17 PM

You said it: Obama scam.

Obama’s not interested in a functioning “energy” industry, he’s interested in being relected and keeping his hands on the public till.

It has nothing to do with good business or functional industry, it has everything to do with Obama-Box-Office.

Lourdes on September 29, 2012 at 5:23 PM

More campaign money laundering.

bgibbs1000 on September 29, 2012 at 5:25 PM

I think Fox News is on their side. They probably get better ratings with a democrat in office.

astonerii on September 29, 2012 at 5:09 PM

Could have fooled me. Did they cover Islam Funding vote in Senate last Saturday? Did they interview ANY of the families of the 4 murdered in Benghazi? Have they hired more rabid communists in the past year or so? Did they fire rabid communist Beckel after raising his arm against a woman on TV and then “misspeaking” TWICE?

Save for Gutfeld and Red Eye there is nothing to watch, they are as timid about SAYING anything that might upset liberals/islamists as other communist media. A bit more here and there does not count when one is bombarded, FOR HOURS, by communists given every chance to spew rabid hatred for USA and freedom.

Fox died as “independent” the day Murdoch walked out of that DoJ meeting a free man.

riddick on September 29, 2012 at 5:25 PM

STOP. SPENDING. MONEY!!
STOP. SPENDING. MONEY!!
STOP. SPENDING. MONEY!!

Is it Nov. 6, yet?

locomotivebreath1901 on September 29, 2012 at 5:26 PM

Could have fooled me. Did they cover Islam Funding vote in Senate last Saturday? Did they interview ANY of the families of the 4 murdered in Benghazi? Have they hired more rabid communists in the past year or so? Did they fire rabid communist Beckel after raising his arm against a woman on TV and then “misspeaking” TWICE?

Save for Gutfeld and Red Eye there is nothing to watch, they are as timid about SAYING anything that might upset liberals/islamists as other communist media. A bit more here and there does not count when one is bombarded, FOR HOURS, by communists given every chance to spew rabid hatred for USA and freedom.

Fox died as “independent” the day Murdoch walked out of that DoJ meeting a free man.

riddick on September 29, 2012 at 5:25 PM

Did they change recently? I gave up on them a while back and just never went back. They were on the slow drift leftward years ago.

astonerii on September 29, 2012 at 5:28 PM

And why shouldn’t the forge ahead, it’s not their money.

bflat879 on September 29, 2012 at 5:22 PM

You couldn’t be more wrong. It is THEIR money, that is their view of it. They simply shuffle the money from one account to another, as many times as it takes for most of it to migrate to a bunch of private accounts somewhere in Caymans.

riddick on September 29, 2012 at 5:29 PM

Did they change recently? I gave up on them a while back and just never went back. They were on the slow drift leftward years ago.

astonerii on September 29, 2012 at 5:28 PM

Good for you. My wife insists on watching so I catch some here and there, and most of the time I am ready to reach in and grab most of the so called “independents/conservatives” by the throat for all their azz kissing and avoiding the truth. I stick to Red Eye, chiefly.

riddick on September 29, 2012 at 5:31 PM

A few, just. BUT… And there is always a BUT, isn’t there, the only way they can show they are making money is when our corrupt energy companies pay super inflated rates for this, sometimes more than 75% more than a more traditional power generation (water, coal, nuclear).

riddick on September 29, 2012 at 4:36 PM

They pay for energy they can not even use effectively. Clouds can come at any time so the power companies keep Gas/Coal plants running to make up for the loss when it happens. Same with wind. Problem is they take up to six hours to start up. So they save very little energy in “idel”. A study in England found Wind 5% efficient and solar 2% efficient. This was very generous too as it did not consider how efficient the wind and solar was at generating power. Just how much of the power they generated was actually used by the system.

Steveangell on September 29, 2012 at 5:38 PM

When do we get to file a class action suit for fraud?

INC on September 29, 2012 at 6:18 PM

Insanity at it’s best.

rocker98 on September 29, 2012 at 6:23 PM

I wish Mitt would use this criminal activity to counter the Bain argument.

Wouldn’t you rather give your money voluntarily to invest in companies that must succeed to reward their investors??

PattyJ on September 29, 2012 at 6:29 PM

Here’s the official report back to NASA concerning a solar project from the 70s – 80s… I worked at this place. The report does not state anything about the system having been shut down a couple years after the final acceptance run and this report were out of the way. It was dismantled asap after that…

The company that was tricked into buying us was pi**ed to find that the system was one giant dysfunctional nightmare (“A White Elephant” is the term they threw around).

NASA had granted $12,000,000 for the project, and the original company owner made out like a bandit. He sold 3x redundant valves to the grant for the system… We made valves for God’s sake and no one questioned that over use (shades of the Volt?).

This is a rather long doc but just read pgs 19 & 20 to see the developer/owner/multimillionaire-after-the-fact bragging about the scam he got away clean from… Typical of this kind of Big Gov funding crap. I wonder who he knew at NASA?

http://ntrs.nasa.gov/archive/nasa/casi.ntrs.nasa.gov/19810015063_1981015063.pdf

Gives the impression that the project ended well… And I can’t find any record of the total shut down/dismantling of the system that occurred a few years later.

RalphyBoy on September 29, 2012 at 6:31 PM

SoloPower’s Board of Directors is a viper’s nest of politically connected and former government employees.

sandspur on September 29, 2012 at 8:21 PM

No, he’s not being stubborn. He’s just convinced that if he keeps spending government money, he’s bound to create a booming economy sooner or later.

It’s just taking a little longer than expected.

tom on September 29, 2012 at 8:31 PM

If any of this solar stuff, or wind energy, had a good potential for actual profit…investors would be all over it like white on rice…avarice is not a bad thing, really.

If some guy or bunch of investors wants to risk a few hundred million in solar panels or wind turbines…and will be allowed by government to reap the profits, god bless ‘em all, and let ‘em do it.

But, since solar and wind has been the beneficiary of government largesse for way too long (and billions and billions poured down the green energy rat hole along the way)…anyone other then me get the idea that most of this solar stuff and wind technology we see today is pretty much just another elaborate Ponzi?

Amperage…that’s the ticket…and neither solar nor wind can provide it.

Light a light bulb (CFL, of course) on your porch, sure thing, but power a factory, drive a steel plant, run a high-speed rail network…not gonna happen.

Unless government gets the hell out of the way.

coldwarrior on September 29, 2012 at 9:56 PM

Are they trying to beat some odds, with one success being eventual? I do believe the odds are 0:infinite, so I can’t make sense of it.

Are they to reward only “friends”? Is it to inflate some malleable jobs numbers? It’s not enough to break our republic, so I’m still at a loss.

I seriously need some reasoning besides “ideas ad infinitum”.

John Kettlewell on September 29, 2012 at 10:45 PM

Why doesn’t someone sue for breach of fiduciary duty or some other civil financial claims? If a private company had failures like this, the SEC would be all over them.

Nutstuyu on September 29, 2012 at 11:22 PM

I had an interesting conversation with one of our utilities pushing green power for 1 penny more per KWhour. After going round and round they had to admit first that solar power doesn’t produce AC it produces DC, DC power needs to be run through an inverter to make AC which we use in our homes. I asked if that was so then what is the efficiency of the inverter of course knowing it would be some ridiculous number 80-90% efficient. Which is totally bogus on a good day it may be 70-75% so 20-25% of the power is being lost to conversion inefficiencies. Then they started to push wind power, naturally wanting to see what they were really after I played along. After the sales talk I asked innocently so what happens when the wind stops blowing? Prefacing my question with getting them to agree that they had to maintain constant power and voltage on the grid with no interruptions. Well they have backup generators, and I asked Oh and what drives those generators so they don’t fail. Uh diesel engines. And the diesel engines need to be running even though they are not on line? Uh Yes.
Bottom line after all the layers were pulled back they wanted the consumer to pay extra 1 penny per KWhour to use green power even though green power only was about 5-10% of their package. The thing that really got me though is when I questioned them about swapping out incandescent bulbs and CFL bulbs for high efficient LEDS, they said well this isn’t about conserving energy, this is about removing coal from the power equation along with Hydro and Nuclear. And even farther down it was about CO2 which is evil. All of this stuff is about evil CO2 from what I can tell cause it all gets back to this one thing eventually.

stormridercx4 on September 30, 2012 at 2:39 AM

Ah, Chu (gesundheit), feeding us more of what’s good for us, but better for adminstration cronys. Did Fox lift a finger to check the contributions of the principles of this SoloPower? I would say it’s a bad investment from the name alone. Who would want to invest in a company that obviously put so little effort into its own name? “That’s good enough. No need to waste our limited brain power to think of a better one. We won’t be in business for long. We’ll take our bonuses and funnel the rest to kickbackng contractors and then…outta here.” On the other hand, you never know, SoloPower may turn out to be a success, if they use the new ObamaCare business model. After the election – if the unthinkable happens and this mob is reelected — they can get the clean articulate one to executive order a SoloPower Mandate. Then the taxpayers not only will have made the loan, but the IRS will make sure they pay it off too. Win-win!

curved space on September 30, 2012 at 9:43 AM

A researcher at Vanderbilt University in conjunction with another person at another university, have developed a solar cell that produces 2.5 times more energy than current models.

If Obama wants to see solar power rise in prominence, he would be better served backing this new product rather than supporting soon-to-be outdated technology.

So why is Obama pouring money into this company? There is political paypback involved. Or monetary payback. Take your pick. Both are probably true.

gasmeterguy on September 30, 2012 at 10:27 AM

If, and I repeat, if, government is going to pour federal tax dollars into anything, does anyone besides me think that putting money behind the science…the science…and not the product, as is Team Obama, makes better sense overall?

Encourage the science, allow individual entrepreneurs and corporations to also fund the science, and allow those who develop the science to secure and enjoy the benefits of whatever and how many patents they develop?

In any other Administration, at a rational period of our history, this Team Obama throwing money into Ponzi Scheme products is nothing less than graft on our dime, on a scake never before visited.

Give $10,000 to Obama…get $1,000,000 of our tax dollars in return.

And the liberal/progressives call private corporations and entrepreneurs greedy and corrupt…you know, the 1%?

coldwarrior on September 30, 2012 at 12:10 PM