Article

2025-02-10 Government Corruption

Energy experts blast failed billion-dollar DOE project as ‘financial boondoggle,' ‘disaster'

[NYP] A major solar power plant project that was granted over a billion dollars in federal loans is on the road to closure, with energy experts blasting the project as a "boondoggle" that harmed the environment.

In 2011, the US Department of Energy (DOE) under former President Barack Obama issued $1.6 billion in loan guarantees to finance the Ivanpah Solar Power Facility, a green energy project that consists of three solar concentrating thermal power plants in California.

The facility was touted by then-Secretary of Energy Ernest Moniz as an "example of how America is becoming a world leader in solar energy."

But after 10 years, the federally funded plant is now on track to close.

"Ivanpah is yet another failed green energy boondoggle, much like Solyndra," Jason Isaac, CEO of the American Energy Institute, an American energy advocacy group, told Fox News Digital in a statement. "Despite receiving $1.6 billion in federal loan guarantees, it never lived up to its promises, producing less electricity than expected while still relying on natural gas to stay operational."

"Now, with its power contracts canceled, Ivanpah stands as a testament to the waste and inefficiency of government-subsidized energy schemes," Isaac said.

Posted by Besoeker 2025-02-10 06:35|| || Front Page|| [11150 views ] Top

"Despite receiving $1.6 billion in federal loan guarantees, it never lived up to its promises, producing less electricity than expected while still relying on natural gas to stay operational."

Posted by Besoeker 2025-02-10 06:47|| 2025-02-10 06:47|| Front Page Top

#2 Climate lawfare is running into a powerful force liberals didn’t expect

Posted by Skidmark 2025-02-10 08:23|| 2025-02-10 08:23|| Front Page Top

#3 Big surprise. None of the 'solar concentrators' ever managed to make net plus energy. It costs more to run them than it makes.

Posted by ed in texas 2025-02-10 08:29|| 2025-02-10 08:29|| Front Page Top

#4 Oil speculators used to quietly sell 20 percent of production shares of a proposed well to 35 people. Losing money is big business.

Posted by Besoeker 2025-02-10 08:43|| 2025-02-10 08:43|| Front Page Top

#5 Just another Clinton-Russia deal - it's right there in the name... IVAN-pah

Posted by Mercutio 2025-02-10 09:36|| 2025-02-10 09:36|| Front Page Top

#6 Democrats go on offensive to protect subsidies for ‘cheap’ renewables that Trump’s orders froze

Posted by Skidmark 2025-02-10 10:57|| 2025-02-10 10:57|| Front Page Top

#7 Good chance that much of the land, now hosting the thermal solar plant will eventually be covered with photovoltaic panels.

Which would work well if we had batteries that were about 50x better than the lithium ones.

Posted by Lord Garth 2025-02-10 19:41|| 2025-02-10 19:41|| Front Page Top

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