A little over a year ago, Steve did a post about your tax dollar being used to install solar panels at a fishery. The cost will be recouped in 70 years of lower electric power costs, but the panels have a useful life of 25 to 40 years. It was necessary for the government to use your tax dollars for this because no sane business would even contemplate such a project.
We now learn about a similar project, this time in Arlington County, Virginia.
Don’t ask why the feds are giving one of the five wealthiest counties in America free money.
This time, $300,000 of your money was devoted to the installation of solar panels at the Arlington County library. By doing so, the county will save about $150,000 in electric power costs over 15 years. But, these panels are projected to have a useful life of, you guessed it, 15 years.
Some 3,000 counties across the country received federal funds for the same kind of negative-return energy conservation ‘investments…’
If my math is correct, that is a total expenditure of almost $1 billion on economically unsound projects.
Doesn’t this country have something better to do with $1 billion?