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New SolarCity deal will double U.S. rooftop solar power (BASE HOUSING - Solyndra 3.0!)
http://money.cnn.com ^ | 09-07-2011 | By Steve Hargreaves

Posted on 09/07/2011 2:45:44 PM PDT by Red Badger

NEW YORK (CNNMoney) -- Residential solar power provider SolarCity and the U.S. government announced a deal Wednesday to put solar panels on military housing units, a move that could double the number of rooftop solar power installed in the United States.

The complex plan calls for SolarCity to receive a $344 million Department of Energy-backed loan from financiers U.S. Renewables Group and Bank of America.

SolarCity will then use the money to put up to 160,000 rooftop solar installations on top of privately run military housing complexes at 124 military bases across 34 states.

SolarCity will own and operating the solar panels, and the companies that own the housing unites will send a monthly check to SolarCity for the electricity.

(Excerpt) Read more at money.cnn.com ...


TOPICS: Business/Economy; Crime/Corruption; Culture/Society; Government
KEYWORDS: green; scam; solarenergy; solarpower; solyndra; sourcetitlenoturl; stupidity
Oh good grief..................
1 posted on 09/07/2011 2:45:56 PM PDT by Red Badger
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To: Red Badger
Oh good grief..................

You beat me to it, except I was gonna say:

For crying out loud......


Where's that guy with the Ah gee, not this *hit again. You know the guy who looks like Desi Arnaz. Please Post.
2 posted on 09/07/2011 2:49:31 PM PDT by truthguy (Good intentions are not enough.)
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To: truthguy

I bet the kickbacks are staggering.......................


3 posted on 09/07/2011 2:50:47 PM PDT by Red Badger ("Treason doth never prosper.... What's the reason? Why if it prosper, none dare call it treason.")
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To: Red Badger

They may get ten houses done before they request more funding.


4 posted on 09/07/2011 2:51:05 PM PDT by org.whodat (What does the Republican party stand for////??? absolutely nothing.)
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To: truthguy

5 posted on 09/07/2011 2:52:40 PM PDT by Nervous Tick (Trust in God, but row away from the rocks!)
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To: truthguy
For crying out loud......

This too my man. This too.
6 posted on 09/07/2011 2:53:09 PM PDT by rockvillem
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To: Red Badger

milking the DoD budget allocated for military housing

I bet this will cost a fortune for nada


7 posted on 09/07/2011 2:53:54 PM PDT by silverleaf (Common sense is not so common - Voltaire)
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To: truthguy

After the pannels go up the the monitors go in and the thermostats get set at 57 degrees in winter and 85 during summer...


8 posted on 09/07/2011 2:56:47 PM PDT by mosesdapoet ("To punish a province Let it be ruled by a professor"Fredrick The Great paraphrased)
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To: Red Badger

That ought to employ the installers for about two weeks.


9 posted on 09/07/2011 2:58:54 PM PDT by jersey117
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To: Red Badger

Wonder how much the execs at SolarCity have contributed to Idi Obama and the Dems?


10 posted on 09/07/2011 3:00:30 PM PDT by N. Theknow (Obama and the Dems - The flash mob raiding the Treasury.)
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To: Red Badger
I'd like to see the math on this. Solar City runs ads around here to put this on your house.

I don't see how it pays out except for being subsidized.

11 posted on 09/07/2011 3:04:14 PM PDT by MileHi ( "It's coming down to patriots vs the politicians." - ovrtaxt)
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To: Red Badger

If this is such a great idea why do they need a $344 million loan guarantee, a guaranteed multi-year contract and huge government subsidies?


12 posted on 09/07/2011 3:09:45 PM PDT by detective
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To: Red Badger
and Bank of America.

Hmmm. BOA gets investigated. BOA invests in Solar power. Pres's favorite program is Solar power.

Am I the only one fitting pieces together here?

13 posted on 09/07/2011 3:13:17 PM PDT by HeartlandOfAmerica (Geithner: Taxes on 'Small Business' Must Rise So Government Doesn't 'Shrink')
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To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/


14 posted on 09/07/2011 3:17:32 PM PDT by Nachum (The complete Obama list at www.nachumlist.com)
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To: MileHi
I'd like to see the math on this.

I'd like to see the books. This smells like nothing but payola for another failing solar company who made the right political contributions.

15 posted on 09/07/2011 3:18:23 PM PDT by Paine in the Neck (Where's he getting these ideas? He's not smart enough to be that stupid all by himself.)
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To: Red Badger
Oh good grief is right.

Milking the captive consumer to funnel government taxpayer dollars to an industry which has failed by any market standards other than those embraced by a corrupt and rotting government.

The only other thing to make this stink even more is to tie in a union connection.

Oh wait -- that's already there.

16 posted on 09/07/2011 3:21:20 PM PDT by Quiller (When you're fighting to survive, there is no "try" -- there is only do, or do not.)
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To: Red Badger

I think it’s good for the military to be used for such projects, because many of the advancements in society have been because of military projects that became civilian.

However, the military should be the ones to figure out who gets the contracts and how to apply technologies on their bases.

I suspect George Soros is involved somewhere along the pipeline.


17 posted on 09/07/2011 3:26:09 PM PDT by Jonty30
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To: Red Badger

Obama will say it created a zillion jobs when all’s it will take is sixty illegal mexicans.


18 posted on 09/07/2011 3:30:24 PM PDT by Dubya-M-DeesWent2SyriaStupid! (“If they bring a knife to the fight, we bring a gun,get in their face” B.H. Soetoro Obama)
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To: Paine in the Neck
I'd like to see the books. This smells like nothing but payola for another failing solar company who made the right political contributions.

Absolutely. This looks like a payoff. Not a watt will be produced.
19 posted on 09/07/2011 3:32:29 PM PDT by PA Engineer (SP/XX12: Time to beat the swords of government tyranny into the plowshares of freedom. Freddd is Gay)
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To: Paine in the Neck

Right. I bet in 5 years there will be useless panels on folks homes that cost too much and they will be back on the grid.


20 posted on 09/07/2011 3:33:35 PM PDT by MileHi ( "It's coming down to patriots vs the politicians." - ovrtaxt)
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To: Red Badger

The ‘companies’ -try UNCLE SAM- that own the housing units will send a monthly check to solarcity? This is Peter paying Peter again.


21 posted on 09/07/2011 3:33:35 PM PDT by Dubya-M-DeesWent2SyriaStupid! (“If they bring a knife to the fight, we bring a gun,get in their face” B.H. Soetoro Obama)
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To: Red Badger

BOA was probably told they would be “protected” if they give this loan. Quid pro quo.


22 posted on 09/07/2011 3:56:24 PM PDT by lwd
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To: HeartlandOfAmerica

It stinks to high heaven!


23 posted on 09/07/2011 3:58:11 PM PDT by lwd
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To: Dubya-M-DeesWent2SyriaStupid!
The ‘companies’ -try UNCLE SAM- that own the housing units will send a monthly check to solarcity? This is Peter paying Peter again.

Base housing is NOT government owned. Yes, they are located on a DOD installation but they are not rented nor maintained by the DOD.

24 posted on 09/07/2011 3:58:22 PM PDT by RobertClark (People sleep peaceably in their beds at night b'cse good men are rdy to do violence on their behalf)
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To: Red Badger

I will predict right now...that IF the project even get’s completed...it will cost more to operate than it’s worth within 3 or 4 yrs...at the max.


25 posted on 09/07/2011 4:00:53 PM PDT by Osage Orange (Si Vis Pacem, Para Bellum)
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To: MileHi
I'd like to see the math on this. Solar City runs ads around here to put this on your house. I don't see how it pays out except for being subsidized.

Solar City is heavily subsidized at the federal and state levels. The combination of federal tax credits, utility payments, and forced utility purchases of excess electricity generation make the solar business lucrative. I believe that some major players (such as Google) are involved in this scam, essentially being provided essentially guaranteed rates of return of 10+ percent.
26 posted on 09/07/2011 4:07:41 PM PDT by businessprofessor
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To: businessprofessor
Here is a reference about the scam.

http://www.huffingtonpost.com/2011/06/14/google-solarcity-investment-home-solar_n_876574.html

Here are some key elements of the investment scam:

Google's investment generates returns three ways. Google gets a tax credit from the federal government of 30 percent of the cost of the solar projects, in this case $84 million. It also can write off the total value of the systems in the year they are built, an accounting benefit called accelerated depreciation. The value of state and local tax credits also flow to Google.

Google investors have questioned investments that have little to do with the company's main Internet businesses and that may be potentially risky or generate lower returns. In a meeting with investors last month, Google CFO Patrick Pinchette said tax benefits of these projects can generate high returns.
27 posted on 09/07/2011 4:15:24 PM PDT by businessprofessor
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To: businessprofessor
That is my understanding, it fails as a stand alone business. Not to mention the equipment often fails before the break-even point on the investment.

I don't have data to prove that but no one has ever showed me why I am mistaken.

Thanks

28 posted on 09/07/2011 4:22:05 PM PDT by MileHi ( "It's coming down to patriots vs the politicians." - ovrtaxt)
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To: Red Badger; Hotlanta Mike; Silentgypsy; repubmom; HANG THE EXPENSE; Nepeta; Bikkuri; Plummz; ...

.

> Ping.

The SolarCity news comes after a tough spell for the industry, with solar companies Solyndra and Evergreen going belly-up in the last couple of weeks.

The Energy Department also backed Solyndra, and the 0bama administration has been taking heat for both that bad loan and for focusing too heavily on green jobs that some say haven’t panned out.

-

How did Solyndra get a sweetheart interest rate?

ABC News discovered that the solar-tech firm Solyndra got unusually low interest rates on its federally-guaranteed loans before it collapsed last month, sending 1000 workers to the unemployment line in California.

Other green-tech firms receiving loans paid as much as three and four times the interest rate Solyndra secured for its $535 million from Barack 0bama’s 2009 stimulus bill from the Treasury’s Federal Financing Bank. ABC notes that other green-tech firms didn’t have the connections that Solyndra had to 0bama (payoff under the table?)

More at Link:

http://hotair.com/archives/2011/09/07/how-did-solyndra-get-a-sweetheart-interest-rate/


29 posted on 09/07/2011 4:36:59 PM PDT by LucyT
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To: Red Badger
Government buildings across the nation have uncounted acres of flat roofs, often in environmentally hostile but sunshine rich real estate. There is no good reason not to mount solar collectors on these expanses of flat roofs, if one could rule out the ever-threatening potential for corruption hovering around their margins.
30 posted on 09/07/2011 6:47:55 PM PDT by hinckley buzzard
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To: LucyT

One after another they go bankrupt and refinanced. There was a solar rage back in the early 70s around here.

Obviously Obama doesn’t give a damn that it’s a major fail; he’s just giving payoffs and weaving webs.


31 posted on 09/07/2011 7:20:12 PM PDT by Lady Jag (Keep the 'ICk" in Democratici)
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To: detective
If this is such a great idea why do they need a $344 million loan guarantee, a guaranteed multi-year contract and huge government subsidies?

Union goons don't like "sob's" asking logical questions... Janet might find you 'extreme' too...

32 posted on 09/07/2011 7:49:54 PM PDT by GOPJ (126 people were indicted for being terrorists in the last two years. Every one of them was Muslim.)
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