The 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.
As 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.
The 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.
As Americans grow increasingly skeptical about global warming, and the availability of shale oil and natural gas is greater than ever in the U.S., a federal official based in Colorado says the climate threat is so dire that electric utilities should not plan long-term for the development of natural gas power plants.
A Department of Energy-funded solar company that laid off 280 workers last week quietly imposed a mandatory, temporary cessation of its operations during the holidays, and warned employees to “not let the rumor mill create false purposes for this shut down.” And in another sign of potential financial troubles, a company document that is supposed to guide “the next great solar company” advises leadership to “stretch payables” to help attain its goals.