With Democrats about to control all the levers of power in Washington, the biggest winners might be the wind and solar companies. These firms' stocks continue to surge mostly because President-elect Joe Biden has pledged to invest several hundred billion dollars in green energy through a pipeline of taxpayer-funded grants, loans, tax credits, and loan guarantees.
With Democrats about to control all the levers of power in Washington, the biggest winners might be the wind and solar companies. These firms stocks continue to surge mostly because President-elect Joe Biden has pledged to invest several hundred billions of dollars in green energy through a pipeline of taxpayer-funded grants, loans, tax credits, and loan guarantees.
DOE spent more than $500 million on solar power plant that repeatedly stumbled
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The financial tale of the Crescent Dunes solar plant in Nevada is one of epic levels of government incompetence and mismanagement of taxpayer dollars.
The Crescent Dunes solar plant received $737 million in guaranteed loans from the Obama administration as part of the 2009 economic stimulus, which included a settlement with the Department of Energy that left the American taxpayers liable for nearly $235 million in outstanding debt. The plant received an additional $275.6 million from the Treasury Department in 2017 as part of the Treasury Department s 1603 program, which allows payments to made for specified energy properties in lieu of tax credits.
ELAM: Meet your new energy secretary - Odessa American: Dennis Elam
Dennis Elam
Dennis Elam is an associate professor at Texas A&M San Antonio and a 1966 graduate of Andrews High School and blogs at https://professorelam.typepad.com/markets/ Posted: Sunday, December 20, 2020 3:00 am
Solyndra received more than half-a-billion dollars from taxpayers through the Obama administrationâs massive stimulus bill in 2009 and filed for bankruptcy in 2011. On Friday, The Wall Street Journalâs editorial board wrote about another failure from the Obama era, this one costing taxpayers as much as $510 million. The company, Tonopah Solar Energy, operated the Crescent Dunes solar plant in Nevada, which received $737 million in guaranteed loans during the Obama administration. Tonopah was granted a Chapter 11 bankruptcy plan in early December.
WindAction | Judge approves Chapter 11 plan for Tonopah Solar Energy windaction.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from windaction.org Daily Mail and Mail on Sunday newspapers.