More Failed Renewable Energy Companies

By Mark Perry, Daily Markets:
Two more renewable energy companies have failed (or are about to fail), despite hundreds of millions of dollars of government taxpayer-financed loan guarantees, tax credits, and grants.  Both failures are taking place in the state of Nevada, and both companies were strongly supported by Nevada Sen. Harry Reid as major job creators.  Reid promoted renewable energy in his state by comparing Nevada’s sunshine and geothermal resources to the value of Saudi Arabian oil.  Minor editing below in bold is mine.

1. Washington Times — “A geothermal energy company with a $98.5 million loan guarantee from the Obama administration U.S. taxpayers for an alternative energy project in Nevada — which received hearty endorsements from Energy Secretary Steven Chu and Senate Majority Leader Harry Reid… Read more

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