Heritage Foundation List of Failing or At-Risk Taxpayer Energy ...

The Heritage Foundation (founded?1980) is a think-tank leader in the current debate over energy policy and related environmental issues. Heritage?s?energy worldview is stated?at their website:

Energy and environmental policy is a national priority. Lawmakers should implement a long-term plan that allows free markets to balance supply and demand, ensures reliable and competitively priced energy for the future, and creates incentives for responsible stewardship of the nation?s resources and environment.

A recent report, ?President Obama?s Taxpayer-Based Green Energy Failures,? lists 34 examples of ?faltering or bankrupt green-energy companies? (with * denoting companies that have filed for bankruptcy). The at-risk total is approximately $7.5 billion, of which $1.6? billion is in receivership.

The numbers will only get higher. Yesterday, it was reported that the Solyndra loss could be $849 million (not $535 million). And there might be a rush after the election with or without an extension of the Production Tax Credit.

Here is the Heritage Foundation list:

1. Evergreen Solar ($25 million)*
2. SpectraWatt ($500,000)*
3. Solyndra ($535 million)*
4. Beacon Power ($43 million)*
5. Nevada Geothermal ($98.5 million)
6. SunPower ($1.2 billion)
7. First Solar ($1.46 billion)
8. Babcock and Brown ($178 million)
9. EnerDel?s subsidiary Ener1 ($118.5 million)*
10. Amonix ($5.9 million)
11. Fisker Automotive ($529 million)
12. Abound Solar ($400 million)*
13. A123 Systems ($279 million)*
14. Willard and Kelsey Solar Group ($.7 million)
15. Johnson Controls ($299 million)
16. Schneider Electric ($86 million)
17. Brightsource ($1.6 billion)
18. ECOtality ($126.2 million)
19. Raser Technologies ($33 million)*
20. Energy Conversion Devices ($13.3 million)*
21. Mountain Plaza, Inc. ($2 million)*
22. Olsen?s Crop Service and Olsen?s Mills Acquisition Company ($10 million)*
23. Range Fuels ($80 million)*
24. Thompson River Power ($6.5 million)*
25. Stirling Energy Systems ($7 million)*
26. Azure Dynamics ($5.4 million)*
27. GreenVolts ($500,000)
28. Vestas ($50 million)
29. LG Chem?s subsidiary Compact Power ($151 million)
30. Nordic Windpower ($16 million)*
31. Navistar ($39 million)
32. Satcon ($3 million)*
33. Konarka Technologies, Inc. ($20 million)
34. Mascoma Corp. ($100 million)

The report?s conclusion speaks to the above, but it also wise words for other government forays into for-profit areas where a vibrant market exists:

The government?s picking winners and losers in the energy market has cost taxpayers billions of dollars, and the rate of failure, cronyism, and corruption at the companies receiving the subsidies is substantial. The fact that some companies are not under financial duress does not make the policy a success. It simply means that our taxpayer dollars subsidized companies that would?ve found the financial support in the private market.

Source: http://www.masterresource.org/2012/10/heritage-34-green-failings/

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