Obama Admin BLEW 150 Billion on green energy!

Yes, I said BLEW. There was almost NO measurable forward motion in the green energy world.
The stats for US renewable energy for 2009 was 8.1% after spending billions to promote and support green energy  they were able to move the needle about 1% by 2014! GREAT!?!

For decades, green energy supporters touted solar energy as the answer. However, the solar energy industry cannot support itself without massive government subsidies. The average homeowner would need a $30,000 system just to save $2,000 a year. And who really knows what the savings are, given the Obama administration’s “fake data.”

Regardless, even using their numbers it would take 15 years just to recover one’s initial investment. Since the average home owner stays in their house less than 13 years, a buyer never recovers his or her investment.

The Institute for Energy Research reports:

President Obama subsidized solar and other renewable energy in the United States with taxpayer money to the tune of $39 billion per year on average for the past 5 years. These massive subsidies, however, have done little to increase the contribution of solar power to the electricity generation mix as solar is expected to produce just 0.6 percent of electricity generation this year.

Disregarding the cost to the American taxpayer and the failed solar projects in the United States, President Obama has pledged billions of dollars to fund solar energy development in India. On his trip to India, President Obama was hoping to bring back a deal similar to the one he made in China to peak the country’s carbon dioxide emissions by 2030. However, Prime Minister Narendra Modi rejected the President’s proposed global warming deal, realizing his priority should be to bring power to the hundreds of millions of Indians that lack access to electricity.

To the point: India rightly rejected part-time energy for full-time energy, as they kicked Obama’s green energy slush fund to the curb.

Not even the allure of money from air could make the Indian prime minister sell out his people.

With statistics like these, it’s no wonder that most of the green energy companies funded by Obama went belly-up. Green energy could easily have been called ObamaFuel, reminiscent of the healthcare scheme that failed just as badly. How many of those ObamaCare co-ops were total flops?

Nearly 40 companies that took big government pay-outs are bankrupt or headed for bankruptcy.

Fox Nation compiled a list of the failing energy companies along with the amount of government funds at their disposal. Most of these companies had millions thrown at them:

  • Evergreen Solar ($25 million),
  • Schneider Electric ($86 million)
  • Johnson Controls ($299 Million)

Other companies actually received billions of taxpayer funds.

Read the rest at GreenBurn

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