Free Republic 2nd Quarter Fundraising Target: $85,000 Receipts & Pledges to-date: $19,036
22%  
Woo hoo!! And the first 22% is in!! Thank you all very much!!

Keyword: solarfraud

Brevity: Headers | « Text »
  • Solar firm that got $26M in Miss. loans is closing

    11/30/2012 5:57:15 PM PST · by Pinkbell · 14 replies
    WLOX 13 ^ | November 29, 2012
    <p>JACKSON, Miss. (AP) - Mississippi taxpayers may have only an empty Senatobia building and some solar panel equipment to show for nearly $26 million in loans provided to Twin Creeks Technologies.</p> <p>The California-based solar technology firm is liquidating, and a company that bought Twin Creeks' assets does not intend to take over its agreement with Mississippi. The contract called for Twin Creeks to invest at least $132 million and create at least 500 jobs.</p>
  • Amonix: Another Obama-Subsidized Solar Company Fails

    07/18/2012 1:38:35 PM PDT · by Nachum · 19 replies
    Breitbart ^ | 7/18/12 | John Nolte
    Here we go again. Yet another example of the Obama White House's failed attempt to pick winners and losers and doing so by gambling with our our tax dollars, this time to the tune of $6 million in tax credits and $15.6 in grant money from the U.S. Department of Energy. This company, Amonix, is only 14 months old. How in the world did it qualify for that kind of tax dollar windfall without any kind of track record? Oh: Nevada Sen. Harry Reid, U.S. Rep. Shelley Berkley, D-Nev., and Gov. Brian Sandoval were among the political leaders who lauded...
  • Another DOE-backed solar panel company collapses

    06/28/2012 11:25:02 AM PDT · by Oldeconomybuyer · 8 replies
    The Hill ^ | June 28, 2012 | By Ben Geman
    Abound Solar, a company that won a $400 million Energy Department (DOE) loan guarantee in 2010 to manufacture advanced solar panels, is closing and filing for bankruptcy, according to DOE. Abound’s collapse follows last year’s demise of the solar company Solyndra and is sure to feed Republican attacks on White House green energy programs despite support for Abound’s loan from several GOP lawmakers ahead of its approval. The Colorado-based Abound had drawn $70 million of the loan, according to DOE. Abound will close its doors and file for bankruptcy next week, the department said.
  • First Solar Restructuring Leads To Loss Of $449M

    05/07/2012 12:30:25 PM PDT · by robowombat · 8 replies
    AP ^ | Fri, 05/04/2012 - 2:36pm | Jonathan Fahey, AP Energy Writer
    NEW YORK (AP) — A shakeout that is rattling the solar panel industry has sent First Solar, once among the industry's biggest and strongest companies, to a big quarterly loss. First Solar Inc. said Thursday that it lost $449 million in the first quarter, The company also announced that its Chief Commercial Officer, James Hughes, would become CEO, replacing interim chief and company founder Mike Ahearn. First Solar said the loss amounted to $5.20 per share..... In the year-ago quarter, the company earned $115 million, or $1.33 per share, on revenue of $567 million. First Solar, along with other makers...
  • Solar panel demand down nearly 90% following subsidy cut

    05/05/2012 9:06:15 AM PDT · by Oldeconomybuyer · 16 replies
    UK Guardian ^ | May 1, 2012 | Damian Cardigan
    Solar panel installations have fallen by almost 90% in the weeks since the government halved cut the subsidy available, according to Department of Energy and Climate Change figures. The new data lends support to the charge of some in the solar industry that the government cut the subsidy too far and too fast, endangering thousands of jobs. Ministers have defended their actions, saying the scheme they inherited from the previous government was poorly set up and was too costly for the energy customers who ultimately foot the bill.
  • Obama Doubles Down On More Solyndras

    04/18/2012 6:11:14 PM PDT · by raptor22 · 4 replies
    IBD Editorials ^ | April 18, 2012
    Green Energy: Another day and another set of layoffs at a Department of Energy-backed solar company and an electric-car maker funded with stimulus dollars. Yet the President wants to double down on green energy. First Solar, a solar energy company that received a $1.46 billion loan guarantee from the Department of Energy, announced Monday it will lay off 2,000 workers worldwide. In December, First Solar laid off 100 employees at a Santa Clara , Calif., plant. The DOE has committed the loan to a project in Riverside County, Calif., expected to create a whopping 15 permanent jobs and 550 construction...
  • DOE-backed solar company lays off 2000

    04/17/2012 8:55:57 AM PDT · by Nachum · 14 replies
    Washington Examiner ^ | 4/17/12 | Joel Gehrke Commentary Staff Writer
    First Solar, a solar energy company that received a $1.46 billion loan guarantee from the Department of Energy, announced today that it will layoff 2,000 workers in the United States and world-wide. The company will "indefinitely idle" four production lines in Malaysia and shutter a plant in Germany. "These actions, combined with other personnel reductions in Europe and the U.S., will reduce First Solar's global workforce by approximately 2,000 positions, about 30 percent of the total," First Solar announced today. "After a thorough analysis, it is clear the European market has deteriorated to the extent that our operations there are...
  • Solar: Fake Energy Provided by Fake President

    04/14/2012 5:35:50 AM PDT · by Kaslin · 13 replies
    Townhall.com ^ | April 14, 2012 | John Ransom
    This is the year that the fake energy provided by our fake president finally collide and go boom. So, get ready for a new round of green bankruptcies, as Europe trims back subsidies for solar companies and taxpayers lose their appetite for subsidizing green power. “The mini-bubble resulting from the rush to cash in on solar subsidies in European and U.S. markets is ending, as feed-in tariffs drop in Europe while loan guarantee and tax credit programs tighten up in the U.S.,” says a new report from Bank of America Merrill Lynch according to CNBC.com.Germany is dialing back subsidies for...
  • Harry Reid, Commerce Secretary John Bryson connected to fast-tracked solar companies

    04/03/2012 7:45:54 AM PDT · by Outside da Box · 3 replies
    The Washington Free Beacon ^ | April 3, 2012 | CJ Ciaramella
    Majority Leader Sen. Harry Reid (D., Nev.) and the Commerce Secretary have extensive ties to fast-tracked green energy programs under investigation by the Senate Budget Committee. Seven solar power companies have received quick approval and little scrutiny from the Department of Interior to lease federal lands in California and Nevada in no-bid processes. Critics have raised questions about the environmental impact of these companies on endangered species.
  • Energy Conversion Devices Files for Chapter 11

    02/14/2012 12:33:34 PM PST · by thouworm
    WSJ ^ | 02-14-2012 | Patrick Fitzgerald
    The Auburn Hills, Mich., company filed for Chapter 11 protection in U.S. Bankruptcy Court in Detroit after it was unable to come to terms on an out-of-court deal with its convertible bondholders, according to Michael E. Schostak, director of business development at Energy Conversion Devices.
  • Sacrificing the desert to save the Earth

    02/05/2012 6:24:31 AM PST · by Oldeconomybuyer · 30 replies
    Los Angeles Times ^ | February 5, 2012 | By Julie Cart
    Environmentalists are torn over the high cost of breaking reliance on fossil fuels. Industrial-scale solar development is well underway in California, Nevada, Arizona, New Mexico, Colorado and Utah. The federal government has furnished more public property to this cause than it has for oil and gas exploration over the last decade — 21 million acres. In the fight against climate change, the Mojave Desert is about to take one for the team. "I have spent my entire career thinking of myself as an advocate on behalf of public lands and acting for their protection," said Johanna Wald, a veteran environmental...
  • Taxpayers Take Hit as Solar Industry Implodes

    01/04/2012 12:23:21 PM PST · by jazusamo · 15 replies
    National Legal & Policy Center ^ | January 4, 2012 | Paul Chesser
    In a year where Solyndra became the face of the solar industry’s chronic failures, even the holiday season could not prevent one last flurry of layoffs in 2011. The Mountain Enterprise (based in Frazier Park, Calif.) reported over the weekend that First Solar, Inc. – which the media sometimes identifies as the largest solar company in the world – laid off half its employees on Friday at its Antelope Valley Solar Ranch One project. The facility has been the subject of controversy in the local community over the effects it will have on land use, wildlife, and water usage....
  • Utility may cut off power to solar plant

    01/01/2012 11:54:54 AM PST · by Mustang Driver · 7 replies
    Charleston (WV) Daily Mail ^ | January 1, 2012 | Don Surber
    Idaho Power plans to cut off electricity on Tuesday to plant in Pocatello, Idaho, that makes material for solar energy, because the factory owes $1.9 million in unpaid utility bills. The dispute is with Honolulu-based Hoku Scientific, Inc., which is backed by Chinese financing and enjoys federal and state incentives. Officials for the utility said Idaho Power agreed to hold off until March on collecting the $1.8 million Hoku already owed, providing the company stayed current in its bills. It didn’t. That’s a telltale sign of trouble as thanks to hydroelectric plants and thermal energy, Idaho enjoys some of the...
  • EDITORIAL: The dirty politics of clean energy

    12/27/2011 9:06:30 AM PST · by jazusamo · 12 replies · 1+ views
    The Washington Times ^ | December 26, 2011 | Editorial
    Federal funds skew business investment during Obama termDisturbing revelations continue to emerge about how more than half a billion dollars of taxpayer dollars were shoveled into the Solyndra solar-panel boondoggle. It is becoming increasingly clear that the only “green” involved in this scandal is money. There is no compelling reason to empower the government to use public funds to engage in risky investments. There also is no reason to believe that government bureaucrats - especially political appointees, not usually known for their business acumen or technical expertise - are smart enough to pick winners in competitive business sectors. Energy Secretary...
  • Rooftop Solar Challenge to Cut Solar's Red Tape($12 million of our money)

    12/05/2011 2:03:33 PM PST · by mdittmar · 9 replies
    Department of Energy ^ | December 1, 2011 | Department of Energy
    Up to 40 percent of the cost of installing solar panels onto your home or business isn't related to hardware at all, but rather due to complications from "soft costs," like permitting, zoning, and hooking your system up to the power grid. In fact, according to a report released earlier this year by SunRun, local permitting and inspection processes alone add more than $2,500 per residential installation nationwide. To add to the problem, permitting and other processes are often complicated and vary from jurisdiction to jurisdiction. In order to make solar energy competitive with other types of energy, it will be...
  • Robert Kennedy, Jr.’s ‘Green’ Company Scored $1.4 Billion Taxpayer Bailout

    11/16/2011 11:30:52 AM PST · by Driftwood1 · 30 replies
    Big Government ^ | Wilton Hall
    President John F. Kennedy’s nephew, Robert Kennedy, Jr., netted a $1.4 billion bailout for his company, BrightSource, through a loan guarantee issued by a former employee-turned Department of Energy official. It’s just one more in a string of eye-opening revelations by investigative journalist and Breitbart editor Peter Schweizer in his explosive new book, Throw Them All Out. The details of how BrightSource managed to land its ten-figure taxpayer bailout have yet to emerge fully. However, one clue might be found in the person of Sanjay Wagle. Wagle was one of the principals in Kennedy’s firm who raised money for Barack...
  • DOE backs 3 more solar loans as deadline looms (Increase Update: 4 loans now @ $5 Billion)

    09/30/2011 1:38:57 PM PDT · by abb · 89 replies
    CBS News ^ | September 30, 2011 | Staff
    With a midnight deadline looming, the Energy Department has approved three more loan guarantees for solar energy totaling about $3.5 billion. Energy Secretary Steven Chu says the department has completed a $1.5 billion loan guarantee to Arizona-based First Solar Inc. for a 550-megawatt solar farm on federal land in Southern California and $646 million to Exelon Corp. for a 230-megawatt solar plant near Los Angeles. A third project, worth $1.4 billion, will support installation of about 750 solar rooftop panels in 28 states. snip
  • D-Day For Green Energy Loan Guarantees As Another Solar Firm Files For Bankruptcy

    09/30/2011 1:26:30 PM PDT · by bestintxas · 10 replies
    forbes ^ | 9/30/11 | Todd Woody
    Update: The U.S. Department of Energy has just announced it has finalized $2.1 billion in loan guarantees for two First Solar photovoltaic power plant projects in California. And First Solar just announced it has sold the 550-megawatt Desert Sunlight project, which received a $1.46 billion loan guarantee to NextEra Energy Resources and GE Energy Financial Services. This is D-Day for First Solar and other renewable energy developers counting on billions of dollars in federal loan guarantees. In a matter of hours, the deadline for the United States Department of Energy to finalize those loans will pass. And as the clock...