Taxpayers Are Footing Bill for Solar Project That Doesn’t WorkThe latest example is the $2.2 billion Ivanpah solar thermal plant in California. (Note: Solar thermal plants do not use solar panels to directly convert sunshine to electricity; they use sunshine to boil water that then drives conventional turbines.)
Here’s the story so far. Ivanpah…
is owned by
Google, NRG Energy, and Brightsource, who have a market cap in excess of $500 billion.
received $1.6 billion in loan guarantees from the Department of Energy.
is paid four to five times as much per megawatt-hour as natural gas-powered plants.
is paid two to three times as much per megawatt-hour as other solar power producers.
has burned thousands of birds to death.
has delayed loan repayments.
is seeking over $500 million in grants to help pay off the guaranteed loans.
burns natural gas for 4.5 hours each morning to get its mojo going.
[
link to dailysignal.com]
There is also another plant like this north of Tonopah,NV.