Solyndra, for instance, was predicated on a flat-out lie:
Here's what's really going on behind the supposed growth of the solar-energy sector:
Solar installations increased 30% last year thanks partly to cheaper photovoltaic panels, but also a rush to cash in on the 30% federal investment tax credit that expires next year. The largest tax credit beneficiaries are big businesses like Wal-Mart and Google solar-leasing companies and their investors. The financiers of SolarCitywhich installs and leases rooftop panels, include Goldman SachsCitigroup and J.P. Morgan Chase—the guys Mr. Obama loves to hate.
As the President dryly remarked, these businesses are “not doing this just out of altruism.” The real reason: Solar leases are a high-yield political investment.
Here’s how this dubious business works. Solar-leasing companies install rooftop systems (which often cost tens of thousands of dollars) at no upfront consumer cost. Homeowners rent the panels for 20 years at rates that typically escalate over time but are initially cheaper than power from the grid. Investors get to pocket the myriad state and federal subsidies while homeowners are promised hundreds of dollars annually in savings on their electric bills.
Sounds fantastic. The catch is that the teaser rates could shoot up if government subsidies are scaled back.
Do not be intimidated out of speaking the plain truth: free-market economics and dense, plentiful energy sources are the obviously grown-up, truly beneficial way to proceed with regard to post-America's energy needs.