Trump Recovers Taxpayer Cash On A $1 Billion Obama-Backed Solar Plant That Was Obsolete Before Ever Going Online

GURPS

INGSOC
PREMO Member
The settlement between DOE and Tonopah Solar Energy must now be approved by a bankruptcy court, the Las Vegas Review Journal reported.

The DOE provided a $737 million loan to Tonopah in September 2011 for the purposes of financing the $1.1 billion Crescent Dunes Solar Energy Project in Nevada. The agency disbursed funds for the plant in 2011 and 2013 before the project experienced problems requiring improvements, rendering the Crescent Dunes obsolete by 2015, Bloomberg reported in January.

Thursday’s settlement will allow the DOE to recoup a portion of the $424 million Tonopah owes. The plant experienced an outage in 2016, forcing a shutdown lasting from October 2016 to July 2017, the Wall Street Journal Editorial Board reported in January. Another outage occurred in April 2019 and is ongoing.

https://dailycaller.com/2020/07/30/trump-obama-tonopah-crescent-dunes-solar-energy-solyndra/
 

SamSpade

Well-Known Member
It seems to me that if you want widespread adoption of stuff like solar energy, you've got to find a way to make it worth the money.

The only way I've seen it worth the money is either - VERY small scale (like a solar battery for phones, or solar outdoor lamps) or rolling the cost into the purchase of a home. Every other scheme involves spending a lot of money just to save the same amount.

SUSBSIDIZING companies that make them is a surefire way to kill the market - for example, how can companies compete if a few of them are being helped by Uncle Sam? Don't help the company - help the technology.

Make it cheap, and people will rush to get it.
 

limblips

Well-Known Member
PREMO Member
Another Harry Reid enrichment scheme gone bad. Not for Harry but for those who have to pay for it.
 
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