This is what happens when you pour subsidies into stupid ideas

Embed from Getty Images

The Greens want us all to pour billions into “green energy” projects.

In the US they have been doing just that…billions of dollars of subsidies into green energy projects.

Where has it got them?

A federally backed, $2.2 billion solar project in the California desert isn’t producing the electricity it is contractually required to deliver to PG&E Corp., which says the solar plant may be forced to shut down if it doesn’t receive a break Thursday from state regulators.

The Ivanpah Solar Electric Generating System, owned by BrightSource Energy Inc., NRG Energy Inc. NRG, -1.86% and Alphabet Inc.’s GOOG, -0.02% GOOGL, -0.40% Google, uses more than 170,000 mirrors mounted to the ground to reflect sunlight to 450-foot-high towers topped by boilers that heat up to create steam, which in turn is used to generate electricity.

But the unconventional solar-thermal project, financed with $1.5 billion in federal loans, has riled environmentalists by killing thousands of birds, many of which are burned to death — and has so far failed to produce the expected power.  

PG&E PCG, -0.44% is asking the California Public Utilities Commission for permission to overlook the shortfall and give Ivanpah another year to sort out its problems, warning that allowing its power contracts to default could force the facility to shut down. The commission’s staff is recommending that it grant the extension Thursday.

Spokesmen for BrightSource, which developed the technology, and NRG, which operates the plant, declined to comment on its future. NRG has said it has taken more than a year to adjust equipment and learn how to best run it.

The Energy Department said last week it supports giving the plant, which started operating in early 2014, more time.

When it isn’t your money you really don’t care if it works or not. You just burn that cash as fast as you can and, like the birds this plant fries, that cash has gone up in smoke.

The Greens moan about money lost in flag referenda. That is nothing on wasted money chasing allegedly “green” energy projects.

 

– MarketWatch


Do you want:

  • Ad-free access?
  • Access to our very popular daily crossword?
  • Access to daily sudoku?
  • Access to daily code cracker?
  • Access to Incite Politics magazine articles?
  • Access to podcasts?
  • Access to political polls?

Our subscribers’ financial support is the reason why we have been able to offer our latest service; Audio blogs. 

Click Here  to support us and watch the number of services grow.

Tagged:
40%