Beam me to Planet Gore !
Posted on 01/30/2011 8:58:12 AM PST by ProtectOurFreedom
Less than a year ago, President Barack Obama held it up as a poster child for clean energy, saying during a visit to its headquarters that "companies like Solyndra are leading the way toward a brighter and more prosperous future." But now, despite having raised more than $1 billion in venture capital and receiving a $535 million loan guarantee from the Department of Energy, Solyndra is struggling and analysts can't see a way forward.
One reason for its woes is that low-cost Chinese manufacturers are building massive factories that have rapidly driven down the price of solar panels and shifted more than 50 percent of production to China. But Solyndra's technology may also be a problem -- several analysts question whether it will ever capture more than a narrow niche of the market.
Solyndra canceled its plans for an IPO in June, citing "adverse market conditions." Then in July, Chris Gronet, the company's founder, was replaced as CEO by Brian Harrison. Gronet remains at the company and chairs the board of directors.
"In 2010, the market changed, and we had to change with it," said Steven Mitchell of Argonaut Private Equity, Solyndra's largest shareholder. "We spent the first three months of 2010 trying to figure out where the bottom was. But we believe we have a fantastic product, and we have great confidence in Brian Harrison."
(Excerpt) Read more at mercurynews.com ...
Yeah, we had a school bond in Charlotte a few years ago. They needed the money to keep from closing some schools. They took the money and bought a country club with a golf course.
WOW at last a great use of school funding....you are paying for that nonsense, might as well enjoy the fruits of your labor!!!
It's not open to the public. You're just being silly.
I hope the HS varsity golf team began winning the State championships!
Tax payer dollars and private investor dollars down the drain.
One reason for its woes is that low-cost Chinese manufacturers are building massive factories that have rapidly driven down the price of solar panels and shifted more than 50 percent of production to China.Yeah, that's just one reason. Happens to be the only real reason. The other idea cited is something that wouldn't have made any difference given the gubmint support. Thanks Ernest.
The science IQ of our elected legislators averages about 50.
Obama? Perhaps 40.
The electorate? 25, if we're lucky.
The taxpayer is being raped and nary a whimper!
How many kilowatt-hrs will they have to generate on average at the current energy rate per day of electricity to show positive benefit?
My suspicion is doesn't matter; it can't be done. Not even close.
A good physicist could cost that out in a few minutes. Not without another $41 million in storage batteries; maybe.
That reminds me of the total ignorance of the average consumer, believing the hype of the TV "Solar Generator" being hyped endlessly. It is simply solar collectors, a humongous battery and a DC-AC converter. It is a solar energy storage device, not a generator.
It would cost half as much and be useful 24 hours a day if a humongous battery, DC to AC converter and a small silent diesel generator were used instead. How many non-technical voters could figure that out?
Not all $41 million is going into the solar power plant. They haven’t disclosed what fraction of the money raised is going into this monstrosity.
The storage problem you point out is totally ignored in these projects. These things put power onto the electric utility distribution system, so it becomes the utility’s problem on how to change the base / intermediate / peaking generation distribution mix. It just pushes the problem off onto the other party. What a sweet deal, huh? You build something that causes somebody else a problem and let HIM solve it.
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