Ham Murabi
Plumbing the Depths
- Joined
- Nov 12, 2002
- Posts
- 23,159
Imagine a green energy product that catches fire when exposed to sunlight.
"The government won't help utilities invest in fossil fuels, but they're only too happy to support those who waste government subsidies with impunity. After the well-publicized failures of Solyndra, Ener1, and other "green energy" companies, two more companies are on the ropes after receiving millions. Abound Solar, recipient of $68 million (of about $370 million promised), filed for bankruptcy earlier this year. That's hardly news except that Abound has also skipped out on nearly $2 million in unpaid property taxes and sold a product described as "working well unless the sun hit it." Abound's panels have an annoying tendency to underperform or even catch fire if the sun hits them.
"In another success story, the future battery maker for the Chevy Volt has placed its employees on rotating furloughs due to a lack of demand. Compact Power, whose plant was built with $150 million in federal funds, hasn't yet made a single battery for the Volt or a planned electric Ford Focus. But the lack of Volt sales has created a ripple effect at the Michigan plant that's supposed to begin producing the batteries for it next year. The Volt's batteries are currently made by a plant in South Korea, hardly a hotbed of American jobs."
"The government won't help utilities invest in fossil fuels, but they're only too happy to support those who waste government subsidies with impunity. After the well-publicized failures of Solyndra, Ener1, and other "green energy" companies, two more companies are on the ropes after receiving millions. Abound Solar, recipient of $68 million (of about $370 million promised), filed for bankruptcy earlier this year. That's hardly news except that Abound has also skipped out on nearly $2 million in unpaid property taxes and sold a product described as "working well unless the sun hit it." Abound's panels have an annoying tendency to underperform or even catch fire if the sun hits them.
"In another success story, the future battery maker for the Chevy Volt has placed its employees on rotating furloughs due to a lack of demand. Compact Power, whose plant was built with $150 million in federal funds, hasn't yet made a single battery for the Volt or a planned electric Ford Focus. But the lack of Volt sales has created a ripple effect at the Michigan plant that's supposed to begin producing the batteries for it next year. The Volt's batteries are currently made by a plant in South Korea, hardly a hotbed of American jobs."
