Taxpayer provided welfare for the renewable energy industry became a lot richer yesterday as the Departments of Treasury and Energy announced that they were making $502 million in “grants” available to firms in lieu of earned tax credits. Apparently the tax credits weren’t worth anything since the industry has no profits.
The $502 million of stimulus funding supposedly will provide 2,000 jobs according to the feds.That’s only $251,000 per job — and all so that consumers can pay higher prices for electricity.
Whoever is being stimulated by this spending is pretty perverse.
Green Hell Blog 
September 9, 2009 at 3:27 pm
Yeah. I’m pretty stimulated about now, too. The renewable energy grant in California is for $2.170B. Total energy production will be 1482 MW. Do the math. It works out to 67 cents per KW/Hr. By comparison, Maryland residents pay 15 cts and that includes taxes and surcharges from every federal agency with a 4 letter name.
September 6, 2009 at 11:50 pm
[…] Battling Unemployment, Renewable Welfare, Stimulus Bill The Departments of Treasury and Energy announced on September 2, that they were making $502 million in “grants” available the renewable […]
September 4, 2009 at 11:10 pm
I think the government could spend $250,000 much better than giving it to a bunch of greens.
September 2, 2009 at 10:15 am
[…] Yep, even though the policy brief notes that their plan to have wind and solar power account for 30 percent of their electricity needs will fail miserably, they’re going ahead anyway. Stiff upper lip, what? Pip, pip, tallyho. Couldn’t happen here, could it? […]