Second time the Green Unicorn Strategy has failed. As Truman noted, "History doesn't repeat itself, we just keep on making the same stupid mistakes.
JOHN STOSSEL: What Joe Biden Isn’t Telling You About Renewable Energy | The Daily Caller
“We’re building a clean energy future,” says President Joe Biden.
Who is “we”?
Well, you pay for it. He and his “green” cronies do most of the building.
Lately, they’re pouring more of your money into “renewable energy.” They promise to give us “carbon-free power” from the sun and wind. (RELATED: ‘Mugged By Reality’: Biden Opened The Door For Chinese EVs To Flood The US Before Moving To Cork It Up, Experts Say)
My new video illustrates some problems with that, using scenes from a new documentary series called “Juice: Power, Politics and the Grid.”
Political scientist Roger Pielke Jr. notes, “It’s quite intuitive for people to understand that there’s a lot of power in solar energy. We feel the wind. The idea that you can get something for nothing, people find enormously appealing.”
Especially in California, where politicians now require all new homes to have solar panels, all new cars sold in 2035 to be zero-emission and all the state’s electricity to come from carbon-free resources by 2045.
They’re getting results, but not good ones: California’s cost of electricity increased three times faster than in the rest of America.
People in Washington State pay about 11 cents per kilowatt-hour. In Oregon, 13 cents. In California, now almost 30 cents.
Do they at least get reliable energy for that? No.
The big problem with wind and solar power, of course, is that they don’t work when the wind doesn’t blow or the sun doesn’t shine. Sometimes that happens when people most want heat or AC.
Increased use of “renewables” is why blackouts are more common in California. Bloomenergy says there were over 25,000 in 2019 — thousands more than the previous year.
“We failed to predict and plan,” said Gov. Gavin Newsom. Right. (RELATED: ‘Hit The Working Class Between The Eyes’: California Green Proposal Could Spike Pump Prices By 50 Cents)
Instead, they embraced unscientific green fantasies.
Requiring all new homes to have solar panels is a big reason California has the most expensive housing in America. The average house costs almost $800,000.
If you can afford that, you get government money for generating solar power. But the handout goes mostly to the rich. Poorer people are more likely to rent.
On top of that, the subsidy is inefficient.
“As their solar panels produce power during the day when the sun is up,” explains electrical engineer Lee Cordner, “They’re able to sell the excess power … into the grid exactly when the grid doesn’t need it. The grid is then inundated with solar power and can’t use it all. Nonetheless, they get paid a very high price for that power.”
Nice for homeowners. Taxpayers pay for rich people to have a highly subsidized solar system.
I put panels on my house partly because of a tax credit. But I don’t delude myself by thinking that solar power will measurably reduce climate change, or that wind power is especially green.
“Just to produce one turbine, we have to extract 900 tons of steel, 2,500 tons of concrete, and 45 tons of non-renewable plastic,” explains ecologist Merlin Tuttle. “Then we’ve got to transport that and burn fuel, getting it all carried across the world. None of these things that go into a turbine are renewable.”
And they wear out. Turbines now get shut down in just 10 years for maintenance. Maintenance costs almost as much as a new turbine, but it’s worth it to “green” companies because of government handouts.
Biden announced an $11 billion subsidy to “bring clean energy into rural communities.” That mostly encouraged people to put wind and solar in inappropriate places.
Solar power makes sense in America’s south, and other sunny places. But an above average number of solar subsidies go to Minnesota. (RELATED: DAVID BLACKMON: Will An Election Year Finally Make The Biden Admin Get Serious About Natural Gas?)
In the documentary, a Minnesota resident laughs and says, “The state is about to give me a whole bunch of subsidies to … build solar in scenic, sunny Minnesota.”
The “Juice” series highlights the stupidity of government throwing money at “green” schemes pushed by the politically connected.
When solar and wind become more efficient, they’ll be cheaper and people will adopt them on their own. Politicians should stop their destructive meddling.
You can watch the full documentary at JuiceTheSeries.com.
Every Tuesday at JohnStossel.com, Stossel posts a new video about the battle between government and freedom.
COPYRIGHT 2024 BY JFS PRODUCTIONS INC
The views and opinions expressed in this commentary are those of the author and do not reflect the official position of the Daily Caller News Foundation.
JOHN STOSSEL: What Joe Biden Isn’t Telling You About Renewable Energy | The Daily Caller
Re: JOHN STOSSEL: What Joe Biden Isn’t Telling You About Renewable Energy | The Daily Caller
I am half the way through Vivek Ramaswamy latest book where he lays out why the Green New Deal is just another money laundering scheme.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: JOHN STOSSEL: What Joe Biden Isn’t Telling You About Renewable Energy | The Daily Caller
Money laundering is probably a good description. This is Obama 2.0, same fleecing took place from 2009 to 2016. Solyndra, etc.
https://www.forbes.com/sites/adamandrzejewski/2021/04/12/remembering-solyndra--how-many-570m-green-energy-failures-are-hidden-inside-bidens-instructure-proposal/?sh=333d3b402672
"This isn’t the first time President Joe Biden has helped oversee a massive infusion of taxpayer dollars into “green energy” and critics doubt whether there were many lessons learned.
The president’s new $2.3 trillion infrastructure proposal includes the same kinds of “green energy” provisions that cost taxpayers billions following the 2009 stimulus bill – The American Recovery and Reinvestment Act (ARRA).
Recently, when rolling out his new American Jobs Plan, the president called it “a once-in-a-generation investment in America,” and asked Congress to invest $35 billion in green energy leadership.
Beyond the White House fact sheet, Biden hasn’t provided specific details, like who will get the funding, for how much, and for what purpose.
So, it’s a good idea to review recent history and take a closer look at the massive green energy projects funded by the Obama-Biden administration the last time around.
Here is a short list of some failures compiled by our auditors at OpenTheBooks.com:
Solyndra – $570 million taxpayer dollars wasted
Solar panel start-up Solyndra was the first company to get government-backed loans from ARRA after its passage, collecting $535 million and receiving a $25 million tax break from California's agency for alternative energy.
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Solyndra’s federal loan came from a program created by the 2009 stimulus for companies developing “commercially available technologies,” and the company said it would use the funds to invest in its one-of-a-kind technology using cylindrical panels to generate solar energy.
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But the company misled the U.S. Department of Energy in its application, and about two-and-a-half years after receiving the funds, filed for bankruptcy, laid off its 1,100 employees, and shut down all operations.
Only six months before it went out of business, the company also got $10.3 million in long-term credit from the U.S. Export-Import Bank for Solyndra’s exports to Belgium.
A report from the Inspector General’s Office later found that the DOE didn’t properly manage and approve Solyndra’s loan guarantee.
Abound Solar – $401 million taxpayer dollars wasted
Another solar cell start-up, Abound Solar, received $400 million in federal government-backed loans from the DOE in 2010 to expand its manufacturing capacity in its Colorado and Indiana facilities.
The company also collected $18.2 million in EXIM (U.S. Export-Import Bank) export support to India in 2011, as well as $1 million in property tax rebates from Colorado and $12.1 million from the Indiana Development Corporation.
Despite all this investment, in June 2012, Abound Solar filed for bankruptcy, leaving 405 people unemployed and its production facilities abandoned. The company cost taxpayers an additional $3.7 million by failing to clean up 100,000 solar panels and 4,100 gallons of toxic waste.
Calisolar – $280 million taxpayer dollars wasted
Yet another solar cell start-up, Calisolar, which later changed its name to Silicor Materials, collected $275 million from the 2009 stimulus and $4.5 million from EXIM, only to fire 80 workers in 2011 and another 36 employees in early 2012.
Fisker Automotive – $193 million taxpayer dollars wasted
Fisker Automotive, received a $529 million DOE loan guarantee, but its funding stopped at $193 million when it didn’t reach milestones for its luxury vehicle, Karma.
Multiple recalls due to technology flaws — and a faulty cooling fan on the engine sourced from General MotorsGM +2.5% — cost the company money and reputation.
Fisker suspended production when its battery manufacturer, A123 Systems, filed for bankruptcy (see below). In November, 2013, Fisker Automotive filed for bankruptcy. The DOE auctioned its debt and sold it to Hybrid Technology LLC for $25 million.
Eventually the technology and assets were sold to a Chinese company.
A123 Systems – $132 million taxpayer dollars wasted
A123 Systems manufactured defective batteries and declared bankruptcy in 2013, but not before the Massachusetts-based company scored $279 million in loan guarantees from the DOE to refurbish two Michigan plants (among other projects). In the end, it collected about $132 million before declaring bankruptcy.
ABB, Inc. – $12.6 million taxpayer dollars wasted
This power equipment maker collected more than $12.6 million in federal stimulus funds to create green energy manufacturing jobs while federal loans of $89.2 million supported the company’s exports to Mexico in 2012.
The company’s Lake Mary, FL, manufacturing plant made switchgears — electrical protective devices that prevent power outages and surges — for Zurich, Switzerland-based ABB Inc.ABB +1.1%
But the company laid off 160 employees at its Lake Mary facility and transferred the work to a new facility in San Luis Potosi, Mexico.
The layoffs came in 2009 as ABB was collecting stimulus funding while the company should have been creating domestic jobs.
The future...
When the government tries to pick winners and losers in the marketplace, like the Obama-Biden administration did in 2009, taxpayers often get to foot the bill.
Critics say that any new infrastructure spending on green energy must have three components:
1. The companies and projects must be vetted and transparent.
2. Funds must be targeted to agreed-upon bipartisan infrastructure objectives unlike in 2009, when Republicans overwhelmingly opposed the legislation.
3. After the funds are spent and the projects built, everything gets an audit.
Otherwise, the only green in the green energy bill will be the taxpayer money down the drain.
Follow me on Twitter or LinkedIn. Check out my website or some of my other work here.
Adam Andrzejewski
Adam Andrzejewski
Adam Andrzejewski (say: And-G-F-ski) is the CEO/Founder of OpenTheBooks.com. Mission: “Every Dime, Online, In Real Time.” Last year we filed 47,000 FOIA requests and captured $12 trillion in government spending (2021). Harvard Law and the Columbia School of Journalism hosted my presentations on big data and forensic auditing. Work featured at The BBC, Good Morning America; ABC World News Tonight; USA Today; The Wall Street Journal; and The New York Times. My presentation to the Hillsdale College National Leadership seminar posted on YouTube has 3+ million views. The 200+ investigations published at Forbes have 16+ million views.
https://www.forbes.com/sites/adamandrzejewski/2021/04/12/remembering-solyndra--how-many-570m-green-energy-failures-are-hidden-inside-bidens-instructure-proposal/?sh=333d3b402672
"This isn’t the first time President Joe Biden has helped oversee a massive infusion of taxpayer dollars into “green energy” and critics doubt whether there were many lessons learned.
The president’s new $2.3 trillion infrastructure proposal includes the same kinds of “green energy” provisions that cost taxpayers billions following the 2009 stimulus bill – The American Recovery and Reinvestment Act (ARRA).
Recently, when rolling out his new American Jobs Plan, the president called it “a once-in-a-generation investment in America,” and asked Congress to invest $35 billion in green energy leadership.
Beyond the White House fact sheet, Biden hasn’t provided specific details, like who will get the funding, for how much, and for what purpose.
So, it’s a good idea to review recent history and take a closer look at the massive green energy projects funded by the Obama-Biden administration the last time around.
Here is a short list of some failures compiled by our auditors at OpenTheBooks.com:
Solyndra – $570 million taxpayer dollars wasted
Solar panel start-up Solyndra was the first company to get government-backed loans from ARRA after its passage, collecting $535 million and receiving a $25 million tax break from California's agency for alternative energy.
MORE FOR YOU
Trump Clinches Republican Nomination
‘The Chosen’ Season 4 Gets Disappointing Streaming Update Due To Legal Issues
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Solyndra’s federal loan came from a program created by the 2009 stimulus for companies developing “commercially available technologies,” and the company said it would use the funds to invest in its one-of-a-kind technology using cylindrical panels to generate solar energy.
Forbes Daily: Join over 1 million Forbes Daily subscribers and get our best stories, exclusive reporting and essential analysis of the day’s news in your inbox every weekday.
Email address
Sign Up
By signing up, you accept and agree to our Terms of Service (including the class action waiver and arbitration provisions), and Privacy Statement. Forbes is protected by reCAPTCHA, and the Google Privacy Policy and Terms of Service apply.
But the company misled the U.S. Department of Energy in its application, and about two-and-a-half years after receiving the funds, filed for bankruptcy, laid off its 1,100 employees, and shut down all operations.
Only six months before it went out of business, the company also got $10.3 million in long-term credit from the U.S. Export-Import Bank for Solyndra’s exports to Belgium.
A report from the Inspector General’s Office later found that the DOE didn’t properly manage and approve Solyndra’s loan guarantee.
Abound Solar – $401 million taxpayer dollars wasted
Another solar cell start-up, Abound Solar, received $400 million in federal government-backed loans from the DOE in 2010 to expand its manufacturing capacity in its Colorado and Indiana facilities.
The company also collected $18.2 million in EXIM (U.S. Export-Import Bank) export support to India in 2011, as well as $1 million in property tax rebates from Colorado and $12.1 million from the Indiana Development Corporation.
Despite all this investment, in June 2012, Abound Solar filed for bankruptcy, leaving 405 people unemployed and its production facilities abandoned. The company cost taxpayers an additional $3.7 million by failing to clean up 100,000 solar panels and 4,100 gallons of toxic waste.
Calisolar – $280 million taxpayer dollars wasted
Yet another solar cell start-up, Calisolar, which later changed its name to Silicor Materials, collected $275 million from the 2009 stimulus and $4.5 million from EXIM, only to fire 80 workers in 2011 and another 36 employees in early 2012.
Fisker Automotive – $193 million taxpayer dollars wasted
Fisker Automotive, received a $529 million DOE loan guarantee, but its funding stopped at $193 million when it didn’t reach milestones for its luxury vehicle, Karma.
Multiple recalls due to technology flaws — and a faulty cooling fan on the engine sourced from General MotorsGM +2.5% — cost the company money and reputation.
Fisker suspended production when its battery manufacturer, A123 Systems, filed for bankruptcy (see below). In November, 2013, Fisker Automotive filed for bankruptcy. The DOE auctioned its debt and sold it to Hybrid Technology LLC for $25 million.
Eventually the technology and assets were sold to a Chinese company.
A123 Systems – $132 million taxpayer dollars wasted
A123 Systems manufactured defective batteries and declared bankruptcy in 2013, but not before the Massachusetts-based company scored $279 million in loan guarantees from the DOE to refurbish two Michigan plants (among other projects). In the end, it collected about $132 million before declaring bankruptcy.
ABB, Inc. – $12.6 million taxpayer dollars wasted
This power equipment maker collected more than $12.6 million in federal stimulus funds to create green energy manufacturing jobs while federal loans of $89.2 million supported the company’s exports to Mexico in 2012.
The company’s Lake Mary, FL, manufacturing plant made switchgears — electrical protective devices that prevent power outages and surges — for Zurich, Switzerland-based ABB Inc.ABB +1.1%
But the company laid off 160 employees at its Lake Mary facility and transferred the work to a new facility in San Luis Potosi, Mexico.
The layoffs came in 2009 as ABB was collecting stimulus funding while the company should have been creating domestic jobs.
The future...
When the government tries to pick winners and losers in the marketplace, like the Obama-Biden administration did in 2009, taxpayers often get to foot the bill.
Critics say that any new infrastructure spending on green energy must have three components:
1. The companies and projects must be vetted and transparent.
2. Funds must be targeted to agreed-upon bipartisan infrastructure objectives unlike in 2009, when Republicans overwhelmingly opposed the legislation.
3. After the funds are spent and the projects built, everything gets an audit.
Otherwise, the only green in the green energy bill will be the taxpayer money down the drain.
Follow me on Twitter or LinkedIn. Check out my website or some of my other work here.
Adam Andrzejewski
Adam Andrzejewski
Adam Andrzejewski (say: And-G-F-ski) is the CEO/Founder of OpenTheBooks.com. Mission: “Every Dime, Online, In Real Time.” Last year we filed 47,000 FOIA requests and captured $12 trillion in government spending (2021). Harvard Law and the Columbia School of Journalism hosted my presentations on big data and forensic auditing. Work featured at The BBC, Good Morning America; ABC World News Tonight; USA Today; The Wall Street Journal; and The New York Times. My presentation to the Hillsdale College National Leadership seminar posted on YouTube has 3+ million views. The 200+ investigations published at Forbes have 16+ million views.