The month of August was not good to solar energy. Nor was it good to taxpayers.
Today, a California company, Solyndra, LLC. closed it doors, filed for bankruptcy and laid off 1,100 workers. The company had been one of many companies that President Obama visited last year touting the virtues of both clean energy and his Stimulus Bill. Solyndra was also one of the companies to benefit from that Stimulus as it received $535 million of your money. I don’t know whether any of those 1,100 laid-off workers counted as a “created or saved” job, but I do know that the American taxpayer will never see that $.5 billion again.
That news prompted me to check on Evergreen Solar, a company we posted about earlier this year. That company fleeced the state of Massachusetts out of $58 million, to locate a plant there. Then, earlier this year, closed that plant in Danvers, Massachusetts, laying off 800 employees. I don’t know whether Evergreen received Stimulus money, but if it did that money is also gone. Evergreen Solar filed for bankruptcy on August 15.
The liberal philosophy that believes that if the government just throws enough money at a non-competitive industry it will somehow magically become competitive doesn’t seem to be working. And yet, let’s keep score.
How many times in the President’s long awaited speech next week about job creation will we hear about green jobs and clean energy?
You can’t learn from your mistakes if you don’t first admit that you made a mistake.