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For starters, there’s no work to be done. Employees, who are being paid with the $150 million the Department of Energy awarded the plant, claim they show up and sit around because there’s nothing to do. It has gotten to the point where employees spend most of their time playing cards and/or board games and watching movies to keep themselves entertained.
“There would be up to 40 of us that would just sit in there during the day,” one former LG Chem employee Nicole Merryman, who said she quit in May, told Target 8.
Evergreen Solar ($25 million)*
SpectraWatt ($500,000)*
Solyndra ($535 million)*
Beacon Power ($43 million)*
Nevada Geothermal ($98.5 million)
SunPower ($1.2 billion)
First Solar ($1.46 billion)
Babcock and Brown ($178 million)
“Workers say they made test battery cells, starting late last year, perhaps 100,000 or more, and that they did a good job. They say they produced perhaps 4,000 a week. But, they say, that worked ended for the most part last December,” Target 8 report. They did, however, ship out those test batteries last spring, “apparently for recycling.”
Originally posted by phantomjack
How can anyone, with a bit of an IQ even consider putting this man back in office again?
Please, explain it to me.
Originally posted by rival
I don't like Obama BUT...
We need a strong president willing to fund green energies. There may be malfeasance
with the funding of these enterpizes (political kickbacks, close personal ties to CEOS etc.)
and if so Obama can burn for it...if not...at least he tried.
I want a president who would spend MY TAX MONEY like this....
Subsidize new home construction that incorporates solar panel technology. And give tax breaks
or incentives or rebates that help existing home owners cover their roofs in solar panels
or buy a small wind generator. That's how you create jobs and infuse an economy.
That's how you put people to work instead of employing people to do nothing but sit
around until the company goes broke so the CEO can declare bankruptcy and make off
with millions on the side.
Originally posted by phantomjack
How can anyone, with a bit of an IQ even consider putting this man back in office again?
Please, explain it to me.
Originally posted by phantomjack
Here is a list of failed Energy Companies under Obama's Stimulus plan:
Evergreen Solar ($25 million)*
SpectraWatt ($500,000)*
Solyndra ($535 million)*
Beacon Power ($43 million)*
Nevada Geothermal ($98.5 million)
SunPower ($1.2 billion)
First Solar ($1.46 billion)
Babcock and Brown ($178 million)
continued at
SOURCE
*Denotes companies that have filed for bankruptcy.edit on 19-10-2012 by phantomjack because: (no reason given)edit on Fri Oct 19 2012 by DontTreadOnMe because: IMPORTANT: Using Content From Other Websites on ATS
Satcon is the second DOE-backed green energy company to declare bankruptcy this week. As Scribe’s Michael Sandoval reported on Tuesday, electric vehicle battery manufacturer A123 Systems filed for Chapter 11 despite receiving a $249 million DOE grant.
Originally posted by phantomjack
I actually have no problem what so ever with Green Energy.
However, the biggest issue is that I CANT AFFORD IT!
I wish I could convert my home to 100% solar. But I cant. The cost is a staggering 30K USD to do so.
So whats the point? In today's limited borrowing economy, where nobody is lending money, how is one to take advantage of a 20 year ROI when one doesn't have the funds?
SO unless someone is going to help me finance my solar house, or give me a windmill, you can easily say that green energy is for the RICH ONLY.
Right?
I would have no problem what so ever driving a Tesla...believe me. I was on the waiting list for a roadster, until they increased the prices from 80K to over 120K.
These technologies are too expensive for the MAJORITY. The Minority has no chance of participating, so what's the point?
The 650,000-square-foot, $300 million facility was slated to produce 15,000 batteries per year, while creating hundreds of new jobs. But to date, only 200 workers are employed at the plant by by the South Korean company. Batteries for the Chevy Volts that have been produced have been made by an LG plant in South Korea.
*snip*
The factory was partly funded by a $150 million grant from the U.S. Department of Energy. LG also received sizeable tax breaks from the local government, saving nearly $50 million in property taxes over 15 years and another $2.5 million annually in business taxes. Landing the factory was hailed as a coup when shovels first hit the ground.
*snip*
Randy Boileau, a spokesperson for LG Chem in Holland, told FoxNews.com that battery production is expected to pick up once Volt assembly lines in Detroit resume production on Oct. 15. He said the facility has spent the past two years building infrastructure and conducting pre-production “test runs.”
Read more: www.foxnews.com...
NEW YORK (CNNMoney) -- Over 770,000 homes weatherized. A doubling of energy from wind and solar. Cleaning 688 square miles of land formerly used for Cold War-era nuclear testing.
These are just some of the 'green' benefits from money spent under 2009's $787 billion stimulus package. Whether it was worth it is an open question, and one sure to come up with greater frequency as the presidential campaign enters its final weeks.
But if we could just stop playing gotcha for a second, we might realize that federal loan programs — especially loans for innovative energy technologies — virtually require the government to take risks the private sector won’t take. Indeed, risk-taking is what these programs are all about. Sometimes, the risks pay off. Other times, they don’t. It’s not a taxpayer ripoff if you don’t bat 1.000; on the contrary, a zero failure rate likely means that the program is too risk-averse. Thus, the real question the Solyndra case poses is this: Are the potential successes significant enough to negate the inevitable failures?
I have a hard time answering “no.” Most electricity today is generated by coal-fired power plants, operated by monopoly, state-regulated utilities. Because they’ve been around so long, and because coal is cheap, these plants have built-in cost advantages that no new technology can overcome without help. The federal guarantees help lower the cost of capital for technologies like solar; they help spur innovation; and they help encourage private investment. These are all worthy goals.