Sunday, August 26, 2012

Federal Spending on Green Energy Fails to Live Up to it Hype




This should not be a surprise, Mcclatchydc.com reports:

An independent study this year concluded that 70,000 jobs were added to clean technology industries from 2007 to 2010 (the goal was 500,000). That study was done by the Brookings Institution, the Breakthrough Institute and the World Resources Institute.  “Judged by the standards of short-term job creation, the energy investments may not have performed brilliantly,” said Mark Muro of Brookings, one of the authors of the report.

Abound Solar borrowed about $70 million for solar manufacturing plants in Colorado and Indiana, and taxpayers will be out about $40 million to $60 million after the company is liquidated, the Department of Energy estimated.

The McClatchy story is not a hatch job on green energy, they point to a useful parts of the government spending on clean energy. But they fail to detail any tangible benefit that matches this spending commitment.

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