Solyndra was big news when it happened, but it’s happened so often since that no one even pays attention. Massive green energy subsidies are used to create ‘plants’ with the promise of jobs for green cars, energy plants and assorted other grifts that have no business model other than government subsidies. When the subsidies don’t deliver, the whole thing shuts down.
Here’s Case #1399
Yes, Mr. President Joe Biden,
With the right energy, anything is possible.
Swiss solar cell and module manufacturer Meyer Burger has halted an expansion of a German factory and will instead build a new plant in the US, saying it is in line to collect $1.4bn in subsidies under President Joe Biden’s Inflation Reduction Act (IRA).
The City of Colorado Springs and the State of Colorado are also supporting the plant with a further $90m, including in tax credits and discounted utilities bills. The US Department of Energy has also promised a more than $300m loan to help get its operations off the ground.
If my math isn’t too far off, that’s around $1.9 billion. And then you’ll never guess what happened to all that green energy.
Solar panel maker Meyer Burger shut down a U.S. factory in Arizona due to financial troubles, cutting all 282 employees, the Swiss company said on Thursday.
The doors of the Goodyear facility were shut early on Thursday and the company put up a sign saying the facility was closed, according to two former employees.
Taxpayer money well spent.