Colorado

Taxpayer-Funded Solar Company Leaves Environmental, Financial Mess

solar panelsIt may be the height of irony that a company that was supposed to soar to the top of the new clean energy economy, with the help of U.S. taxpayers to undergird President Obama’s stimulus visions, has instead left both an environmental and financial mess after its demise.

Yet that’s exactly the case with miserable failure Abound Solar, which the president’s Department of Energy thought so much of, they awarded it a $400 million loan guarantee. That proposition quickly soured and the government halted payouts after about $70 million. The company went bankrupt in June 2012, leaving taxpayers out between $40 million and $60 million that was never recovered.

Stimulus Program Delivered Free Trees to Rich People...and a Reporter

Denver free treesNLPC has reported regularly on several of the large-ticket boondoggles that have received taxpayer support via President Obama’s “green” stimulus initiatives, but for every Fisker, Nissan Leaf or Ecotality, there are thousands of smaller, equally unworthy beneficiaries that deserve public scorn.

Government watchdogs – both “professional” and amateur – can scour the Recovery.gov Web site and find the waste pretty easily. But KCNC-TV reporter Brian Maass had the stimulus program come to his doorstep. Denver had launched a program, paid for out of the federal American Recovery and Reinvestment Act, to plant about 4,000 trees at private residences (photo courtesy KCNC) – many in high-priced neighborhoods that didn’t need the free shade.

Colorado Local Govts Struggle in Wake of DOE's Abound Solar Bankruptcy

Abound logoSo here’s the legacy left in Weld County, Colorado by bankrupt Abound Solar, the crony capitalist-influenced Department of Energy, and Democrat donor/investor/billionaire-ette Pat Stryker: A financially-screwed county government, hundreds who have lost their jobs, and a big, expensive toxic mess to clean up.

But it’s no skin off the jet-setting heiress’s nose as she continues to pour millions into hard-left causes, while the locals affected by the closure struggle.

Abound Solar's Toxic Waste Highlights Enviro Hypocrisy on Pollution

Abound logoAnd the environmental pressure groups wanted you to believe solar energy was “clean” and “green.”

If that’s true, then why do we keep hearing the words “toxic” and “hazardous” connected with the production of solar panels – especially with the companies that fail?

2012: The Year of Taxpayer ‘Green’ Waste

Obama InvescoThe past year was a dismal one for the passé idea that government would use taxpayer dollars responsibly, and that was nowhere more evident than with President Obama’s initiatives to promote “clean” energy technology companies and projects with so-called “stimulus” funds and other public money. NLPC reported extensively on some of the most egregious examples.

Emails Show White House Exerted Pressure for DOE Loan to Abound Solar

Abound logoThe claim that the many beneficiaries (like Solyndra and Fisker Automotive) of President Obama’s green energy stimulus program received their millions of taxpayer dollars based on measurable metrics rather than political favoritism has always been undermined by the circumstantial evidence, but documents obtained by Complete Colorado indicate the White House applied direct pressure to its own Department of Energy to reward (another) one of its allies.

DOE Hiding Truth About Bankrupt Abound Solar's Defective Panels

Abound logoAs the now-bankrupt stimulus loan recipient Abound Solar filed for Chapter 7 (liquidation) bankruptcy in early July thanks largely to its defective modules, the Department of Energy still praised the company’s work as “innovative” and cost competitive, all while it blamed Abound’s failure on China for dumping underpriced panels on the market.

And now, despite the fact that Abound no longer exists, DOE is still withholding public information about the company because it claims it would harm the inactive business’s competitive edge by disclosing trade secrets.

DOE's Derelict Judgment Makes Abound Solar a Tax Scofflaw

Abound logoBankrupt manufacturer Abound Solar, which is liquidating despite having received $70.9 million in taxpayer-backed loans from the Department of Energy, may leave government services in its former Weld County, Colo. home in trouble because of diminished property tax revenues.

GE Solar Delay Shows Timing Will Never Be Good

solar panelsWe’ve heard this story before.

Much like taxpayer-backed Abound Solar – which just revealed it would declare bankruptcyGeneral Electric announced last week it would suspend construction of a solar panel manufacturing plant in Colorado. The excuse given was that GE plans to focus on research and development to improve the technology and efficiency of the panels it wants to produce.

Yet Another DOE Green Failure as Abound Solar Goes Bankrupt

Abound logoThe next time a green energy company announces it is intentionally slowing down for a transition phase, or that a technology breakthrough is just around the corner, or that all that’s needed for future success is just a little more taxpayer “investment” – don’t believe it. It's likely a lie.

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