To say that there is no green in the so-called green energy sector is indicative of why that is. It is not because people don’t want a low-cost, in terms of dollars and efficiency, solution to their energy needs. It is because there is no practical market for it yet. Not for Solyndra. Not for BrightSource Energy either.
If Solyndra’s bankruptcy was not a sign of no market in this industry, all you have to do is to look at BrightSource Energy’s registration statement for going public. In their own words, without government money, they can not survive.
We depend heavily on government policies that support renewable energy and enhance the economic feasibility of developing solar energy projects.
They can’t even say that what they want to do can even be done.
Our proprietary technology has a limited history and may perform below expectations when implemented on utility-scale projects.
We use proprietary technology that has not been previously implemented on utility-scale projects of the size and complexity of the Ivanpah Solar Electric Generating System, or Ivanpah, and Ivanpah may experience technological problems that neither we nor any of the third-party independent engineers that have reviewed our projects are able to foresee. The systems that we will implement on utility-scale projects include a solar field with heliostats controlled by advanced software systems that concentrate sunlight onto a receiver to produce high-temperature steam. If the implementation of our proprietary technology is unsuccessful, it could negatively impact the successful operation of projects using our systems and may result in additional payments, deductions or defaults under key project documents, including our PPAs or other financing arrangements.
The company’s registration statement is as dismal as anyone could imagine. Scaring away any private-sector investor with no expectation of a government bailout. Except for Robert F. Kennedy, Jr’s. venture capital company, VantagePoint Partners, the largest investor in BrightSource Energy. BrightSource received a $1.4 Billion loan guarantee from Obama’s Department of Energy.
The lesson to learn is that just because it sounds like a good idea, doesn’t make it worth throwing good money after bad. Regardless of the size of political contributions made to the administration. That, and government can not create a market because it wants to. Markets are created when companies make something they can sell at a profit that customers want.
Contrary to what Obama may think, he is not creating jobs in this country (China, yes) by gambling with the taxpayers money on green energy. With every dollar Obama removes from the private sector, he is killing them.
With his regulations and drilling moratorium, and pipeline rejection, he is killing even more jobs. Kind of makes you wonder about President Obama’s priority. Is it jobs in a free-market economy or jobs in a government controlled economy?