Articles filed under Taxes & Subsidies from Nevada

A $1 Billion Solar Plant Was Obsolete Before It Ever Went Online

In 2011 the $1 billion project was to be the biggest solar plant of its kind, and it looked like the future of renewable power. Citigroup Inc. and other financiers invested $140 million with its developer, SolarReserve Inc. Steven Chu, the U.S. Department of Energy secretary at the time, offered the company government loan guarantees, and Harry Reid, then the Senate majority leader and senior senator from Nevada, cleared the way for the company to build on public land. ...SolarReserve may have done its part, but today the company doesn’t rank among the winners. Instead, it’s mired in litigation and accusations of mismanagement at Crescent Dunes, where taxpayers remain on the hook for $737 million in loan guarantees.
31 Jul 2020

DOE touts deal to recoup $200M from failed solar project

"This project has consistently faced technical failures that have proven difficult to overcome," Hynes said, adding that the department's decision was made "after years of exhausting options within our authority to get the project back on track, given the significant taxpayer investment the prior administration committed to this project." DOE is currently owed about $425 million, with the last payment made in July 2013.
31 Jul 2020

A $1 billion solar plant was obsolete before it ever went online

SolarReserve doesn’t rank among the winners. Instead, it’s mired in litigation and accusations of mismanagement at Crescent Dunes, where taxpayers remain on the hook for $737 million in loan guarantees. Late last year, Crescent Dunes lost its only customer, NV Energy Inc., which cited the plant’s lack of reliability. It’s a victim, ironically, of the solar industry’s success over the past decade. 
6 Jan 2020

It’s time for wind tax credit to get blown away

Lame-duck Senate Majority Leader Harry Reid soon will lose control of a chamber he has helmed for eight years. As the sun sets on his reign, one question remains: will Reid, D-Nev., go out with bang or a whimper? The answer to that question could depend on what Congress decides to do about one of Reid’s favorite corporate subsidies: the wind production tax credit.
21 Nov 2014

A Government-subsidized Desert Death Ray

The Ivanpah solar generating plant is located in California about 50 miles from Las Vegas near the California-Nevada border.  173,000 mirrors are used to concentrate the sun on 3 boiler-towers where water is turned into steam to drive turbines and generate electricity. The mirrors track the sun and concentrate sunlight so that the intensity of light falling on the boiler-towers is about 500 times stronger than sunlight -- a death ray. If a person were to be illuminated by this death ray, 3rd degree burns would follow within a few seconds. Insects that wander into the kill zone are quickly vaporized. Birds are severely burned or killed depending on how long they are in the kill zone. An aerial view is below. Only one tower was operating when the photo was taken.
12 Sep 2014

A U.S.-backed geothermal plant in Nevada struggles

In a remote desert spot in northern Nevada, there is a geothermal plant run by a politically connected clean energy start-up that has relied heavily on an Obama administration loan guarantee and is now facing financial turmoil. The company is Nevada Geothermal Power, which like Solyndra, the now-famous California solar company, is struggling with debt after encountering problems at its only operating plant.
3 Oct 2011

State giving up $500,000 per job in renewables

Nevada has handed out tax incentives worth an estimated $45 million to lure solar and geothermal projects to Nevada over the past four years. So far, the state has received in return promises that the projects' developers will create 89 permanent jobs. It's a number so small that some lawmakers are questioning whether taxpayers are getting a good return on their investment in the incentives.
10 Mar 2009

Taxpayer money funding failures

The current fiscal catastrophe in Nevada is being further damaged by the governor's office, which has given carte blanche to alternative wind energy limited liability companies to move into Nevada and game the tax credit system and then to follow tax subsidies that are solely funded by taxpayer money.
1 Jan 2009
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