Posted on 11/15/2011 12:43:08 AM PST by Islander7
WASHINGTON — Halfway between Los Angeles and San Francisco, on a former cattle ranch and gypsum mine, NRG Energy is building an engineering marvel: a compound of nearly a million solar panels that will produce enough electricity to power about 100,000 homes.
The project is also a marvel in another, less obvious way: Taxpayers and ratepayers are providing subsidies worth almost as much as the entire $1.6 billion cost of the project. Similar subsidy packages have been given to 15 other solar-and wind-power electric plants since 2009.
(Excerpt) Read more at hawaiifreepress.com ...
As NRG’s chief executive, David W. Crane, put it to Wall Street analysts early this year, the government’s largess was a once-in-a-generation opportunity, and “we intend to do as much of this business as we can get our hands on.” NRG, along with partners, ultimately secured $5.2 billion in federal loan guarantees plus hundreds of millions in other subsidies for four large solar projects
Tip of the iceberg. It’s the new gold rush for the con men: buy a plot of completely worthless land, say the magic words (green clean etc) plant some chintzy metal structure and grow money.
bump
Unfortunatly the Progressives/Fascists in this country got into bed with the mafia decades ago (perhaps Kennedy was the first to succumb). Now, I see no difference between our government and our organized crime structure. Just one big protection racket.
I guess it will soon be built and placed into operation.
Then we will see if it lives up to it’s promise, and what it costs to maintain it.
I will wait a couple of years before singing it;s praises, or condemning it.
It is already built. We’ll see if it pays off. Likely not!!
Oh, yeah. For every kilowat produduced by a wind farm 1 million birds are sacrificed annually. This facility should reduce the bird population in central CA by 50% in the first 5 years. But it is all good as long as we continue to prosecute oil companies for allowing an occasional bird to land in an oil pond.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.