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Solyndra To Make Solar Power As Cheap As Coal In 2-3 years (from 2 year ago)
http://www.businessinsider.com/solyndra-to-make-solar-power-as-cheap-as-coal-in-2-3-years-2009-3 ^

Posted on 08/31/2011 2:38:00 PM PDT by MNDude

Solyndra, the first recipient of a loan from the Department of Energy, told us that it thinks it will produce solar panels at a price that's competitive with standard sources of energy in the next 2-3 years.

"We see a clear path," says Kelly Truman, the VP of marketing, sales and business development, "and in 2-3 years we'll hit grid parity."

We spoke with Truman yesterday who said the $535 million loan from the DOE will finance 73% of a new factory, though he declined to say how the company would pay for the remainder of the project. The current factory is going to be able to produce 110 MW of solar panels, with each panel able to produce 200W of energy each. The next factory will be able to produce 550MW of solar panels annually. That's enough energy to power almost 200,000 homes. Solyndra hopes to have the new factory shipping panels by 2011.

(Excerpt) Read more at businessinsider.com ...


TOPICS: News/Current Events
KEYWORDS: humor; news; nuclearplants; nuclearpower; porkulus; solar; solarpower; solyndra; sourcetitlenoturl; stimulus
haha!
1 posted on 08/31/2011 2:38:06 PM PDT by MNDude
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To: MNDude

Today we learn they are filing for Chapter 11.

Thanks, noooobama!!!!

BTW, is the mainstream media reporting today’s news or only NBC Bay Area?


2 posted on 08/31/2011 2:40:13 PM PDT by library user (I want my headstone to read: "He died while doing what he enjoyed most: breathing.")
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To: MNDude

“cheap” energy is a fantasy, whether ‘green’ or not.


3 posted on 08/31/2011 2:41:46 PM PDT by Lorianne
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To: MNDude

I live in Fremont (thus the Moniker..) Even saw the President’s copter take off after the visit. (I was servicing my RV about 1/2 mile away from the new plant construction.)

Solyndra took the money from DOE and built a brand new manufacturing plant a couple blocks down from their original facility. They moved into the new facility and laid off a few hundred workers in the process.

Now - it appears that even this brand spanking new place can’t compete with off-shore manufacturing. Good money down a Rat hole!


4 posted on 08/31/2011 2:44:47 PM PDT by fremont_steve
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To: Lorianne

ditto.


5 posted on 08/31/2011 2:44:58 PM PDT by ken21 (ruling class dem + rino progressives -- destroying america for 150 years.)
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To: MNDude

So where did over half a billion dollars in taxpayer money go in two years?

Bernie Madoff could’ve learned a trick or two from these guys.


6 posted on 08/31/2011 2:45:52 PM PDT by Argus
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To: MNDude

That’s OK, they got their government freebies and I’m sure the execs made out well (be interesting to find out what the Solyndra fat cats made).

Time to fold.


7 posted on 08/31/2011 2:46:00 PM PDT by Lorianne
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To: MNDude

As long as government subsidies are available at the tune of $1 Billion per year.


8 posted on 08/31/2011 2:46:05 PM PDT by Gaffer
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To: fremont_steve

Breaking: Solyndra solar plant closes; $535 million vanishes; Obama curse strikes again; UPDATE: Bankrupt

This ought to be the top story on every news outlet nationwide, and ought to be the death knell for the “Stimulus” concept and for the “green jobs” fallacy. But I get the feeling the MSM will bury it.

When workers showed up at the Solyndra solar-panel factory in Fremont, California this morning — they were ordered to leave by guards, and then given instructions on how to pick up their final checks. In other words, the dream is over:

Solyndra Shutting Its Doors

Solyndra, a major manufacturer of solar technology in Fremont, has shut its doors, according to employees at the campus.

I was told by a security guard to get my [stuff] and leave,” one employee said. The company employs a little more than 1,000 employees worldwide, according to its website.

Shortly after it opened a massive $700 million facility, it canceled plans for a public stock offering earlier this year and warned it would be in significant trouble if federal loan guarantees did not go through.

The company has said it will make a statement at 9am California time, though it’s not clear what that statement will be. An NBC Bay Area photographer on the scene reports security guards are not letting visitors on campus. He says “people are standing around in disbelief.” The employees have been given yellow envelopes with instructions on how to get their last checks.

Solyndra was touted by the Obama administration as a prime example of how green technology could deliver jobs. The President visited the facility in May of last year and said “it is just a testament to American ingenuity and dynamism and the fact that we continue to have the best universities in the world, the best technology in the world, and most importantly the best workers in the world. And you guys all represent that. ”

The federal government offered $535 million in low cost loan guarantees from the Department of Energy.

Here’s a brief clip of Obama shaking hands at the Solyndra plant just a year ago, after giving a speech touting green jobs and the $535 million giveaway:

If you want to watch his incredibly long and self-indulgent speech, click here. Starting at 4:33, here’s what Obama had to say about Solyndra’s rosy outlook:

It’s here, that companies like Solyndra are leading the way toward a brighter, more prosperous future.

Remember, he said this just one year ago.

Basically, the federal government just invested $535 million of our taxpayer funds in a loser company that went belly up in only one year. And that whole investment — poof! Gone.

As an investor, Obama is either cursed, or perhaps merely blinded by ideology.

UPDATE I:

Maybe this is a clue as to why Obama gave $535 million to Solyndra in the first place — it was a union stronghold:

IBEW members at Solyndra with President Obama

UPDATE II:

Solyndra has just announced its bankruptcy. You can download the press release (in. “.doc” format) here:

Solyndra Bankruptcy Announcement

Solyndra LLC, the American manufacturer of innovative cylindrical solar systems for commercial rooftops today announced that global economic and solar industry market conditions have forced the Company to suspend its manufacturing operations. Solyndra intends to file a petition for relief under Chapter 11 of the U.S. Bankruptcy Code while it evaluates options, including a sale of the business and licensing of its advanced CIGS technology and manufacturing expertise. As a result of the suspension of operations approximately 1,100 full-time and temporary employees are being laid off effective immediately.

SOURCE

9 posted on 08/31/2011 2:56:34 PM PDT by thouworm (.)
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To: Lorianne
“cheap” energy is a fantasy, whether ‘green’ or not.

Coal, natural gas, and oil provided affordable electricity, gasoline and diesel fuel for many years before the liberals decided that they didn't want us to have cheap fuel and electricity. Once they decided to run each minute detail of our lives things have become more expensive each year. Cheap energy could be available again if the government would get out of the way.

10 posted on 08/31/2011 2:57:29 PM PDT by Mind-numbed Robot (I retain the right to be inconsistent, contradictory and even flat-out wrong!)
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To: Liz

Food ping for the fodder-—article and post #9


11 posted on 08/31/2011 2:58:27 PM PDT by thouworm (.)
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To: MNDude

Solyndra- another unfortunate victim of racism in this country...


12 posted on 08/31/2011 3:03:33 PM PDT by jimmygrace
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To: MNDude

Congress should IMMEDIATELY defund and disband the DOE.

And SOMEBODY should be seeing the inside of a jail cell for twenty years or so!!!

Dream on, eh??...... Same old sh*t, different day..


13 posted on 08/31/2011 3:05:16 PM PDT by djf (One of the few FReepers who NEVER clicked the "dead weasel" thread!! But may not last much longer...)
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To: thouworm

Well, if they would have has a little MORE money, they would have scaled better...

vomitous </s>


14 posted on 08/31/2011 3:06:17 PM PDT by The Antiyuppie ("When small men cast long shadows, then it is very late in the day.")
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To: Mind-numbed Robot

Cheap at the pump (or whateve final delivery system) does not mean that energy was cheap. We paid for it in more ways than at the retail level.

And it won’t be ‘cheap’ anymore ... even at the pump because there is more competition now for energy.


15 posted on 08/31/2011 3:06:36 PM PDT by Lorianne
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To: The Antiyuppie

“Well, if they would have has a little MORE money, they would have scaled better...”

That is the NEA line to get more school funding!


16 posted on 08/31/2011 3:11:12 PM PDT by HereInTheHeartland (I love how the FR spellchecker doesn't recognize the word "Obama")
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To: The Antiyuppie

“Well, if they would have has a little MORE money, they would have scaled better...”

yea...that’s the ticket-—throw more money at an idea doomed from the start. Suggestion for Obama’s Jobs Plan speech: Drill, baby, drill.

“vomitous </s>” [borrowing your sarc tag]


17 posted on 08/31/2011 3:16:07 PM PDT by thouworm (.)
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To: MNDude

They’re too important to fail. The Feds need to take over the operation and keep it going with a trillion dollar subsidy.


18 posted on 08/31/2011 3:44:07 PM PDT by lurk
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To: MNDude

Here is a link to an expose yesterday by Bruce Krasting:

http://www.zerohedge.com/contributed/government-investment-disaster-works

Then today they go bankrupt. Read the expose.


19 posted on 08/31/2011 3:53:33 PM PDT by perchprism (To those about to revolt, we salute you.)
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To: MNDude
"We see a clear path,"

To $600 million in taxpayer cash.

20 posted on 08/31/2011 4:05:53 PM PDT by denydenydeny (The moment you step into a world of facts, you step into a world of limits. --Chesterton)
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To: MNDude
Lets' see. I find a black guy on welfare and set him up as the front man for a new solar company. Based on this guy's rage to riches story, Dick Obama gives the company a great deal--$1 for the vacant facility where Solyndra was.

Next, we buy the business plan from Solyndra for a million bucks. This money is an advance (think obama's first book deal) on the $500 million federal grant we are going to get using the business plan, since it still sounds miraculous.

I will get a $50 million dollar salary since I am going to make solar power cheaper than coal in 2-3 years. I will give the black guy, who is now the figurehead CEO of the company $100,000 salary.

With the rest of the money, we will buy all kinds of the state-of-the-art equipment to make the panels. Once the equipment is in place, we will shut the place down and announce that we are moving to China. The CEO will sell the equipment to me for $1 and I will sell it to the guys who are going to run my China factory. The black guy can come along if he wants.

Can I be the "Green Businessman of the Year"? If not, I guess I could just be a lefty democrat.

21 posted on 08/31/2011 4:59:45 PM PDT by Right Wing Assault (Dick Obama is more inexperienced now than he was before he was elected.)
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To: MNDude

The whole Democrat storyline that green jobs are the future is only partially correct except they are Chinese green jobs
where labor costs to manufacture solar and wind products are 10% what they are in the US. The Chinese are now stronger advocates for climate control now that they are taking a predominant global share of the jobs in this market. They can market these products to the suckers in the West who are sold on climate control while they happily spew CO2 into the ozone.


22 posted on 08/31/2011 7:26:29 PM PDT by chuckee
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To: Lorianne
Cheap at the pump (or whateve final delivery system) does not mean that energy was cheap. We paid for it in more ways than at the retail level.

I apologize, Lorianne, but I don't understand what you mean. Would you explain the other ways we consumers pay for energy other than at retail?

And it won’t be ‘cheap’ anymore ... even at the pump because there is more competition now for energy.

Again, please describe "competition for energy". Do you mean demand? Increased demand can raise prices if it is not met with increased supply. Competition usually lowers prices.

23 posted on 09/01/2011 10:33:24 AM PDT by Mind-numbed Robot (I retain the right to be inconsistent, contradictory and even flat-out wrong!)
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To: Mind-numbed Robot

Externalized costs are things like taxes that subsidize energy companies, taxes to pay for the military (which secures oil producing areas of the globe and shipping routes), taxes to support the infrastructure to ship liquid and solid energy materials (oil, gas, coal).

Energy cost will not be going down overall because of increased demand from emerging economies that are demanding more and more energy ... more than supply can keep up with.


24 posted on 09/01/2011 11:05:10 AM PDT by Lorianne
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To: Lorianne

Thank you.


25 posted on 09/01/2011 9:07:53 PM PDT by Mind-numbed Robot (I retain the right to be inconsistent, contradictory and even flat-out wrong!)
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