Because the high-speed train to nowhere shouldn't be the only boondoggle. Over $2 Billion California Solar Plant Built To Last, Now Closing Over Inefficiency | The Daily Caller
The $2.2 billion dollar installation was funded by $1.6 billion US taxpayer dollars, because of course it was.
The partially taxpayer-funded Ivanpah Solar Power Facility in California’s Mojave Desert is set to shut down in 2026 due to inefficiency in generating solar energy, according to the New York Post.
The $2.2 billion plant, which features three 459-foot towers, was greenlit in 2010 and completed in 2014. According to the New York Post the closure stems from the site being “outpaced by solar photovoltaic technology” and proving both inefficient and costly.
The technology seemed promising in the early 2000s, and smaller versions were built in Europe. By 2020 photovoltaic panels were cheaper and more efficient.
Funds for the massive plant partially came from former President Barack Obama’s Department of Energy, which in 2011 issued $1.6 billion in three federal loan guarantees under former Secretary of Energy Ernest Moniz. At the 2014 opening, Moniz touted federal support for the project, calling it “a shining example” of America’s leadership in solar energy.
Hat tip to Oppo at IMAO: Friday Night Open Thread: So, Engineers Have To Build Something To Find Out If It’s Inefficient?
Moniz can’t buy everything, it’s true.
The Obama Administration gave money to solar power plants, and battery companies for electric cars. Did any of their "investments" work out, or was it just a cash grab from friends, and jobs programs for friendly politicians?
How much of those federal loan guarantees morphed into campaign contributions, kickbacks, or just plain payoffs?
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