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  1. #1 Portland is stuck paying $5 million on a loan that SoloPower 
    Senior Member Banacek's Avatar
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    A company once pursued for its promise of green jobs will cost the City of Portland $5 million after defaulting on a $10 million state loan.

    Portland paid millions to lure SoloPower Systems to the city but will now have to pay much of the $8.1 million left on a state loan the company failed to pay. The Portland Business Journal reported Wednesday that the company defaulted on a $10 million loan from the Oregon Department of Energy. It stopped making payments in September. Portland made two payments of $119,000 toward the loan in April and May, said Oregon Department of Energy spokeswoman Rachel Wray.

    Portland will now have to make $119,000 monthly payments toward the company's debt through October 2020 because former Mayor Sam Adams agreed in 2011 to guarantee $5 million of the state loan. The money will come from Portland's Bureau of Transportation, but Prosper Portland, formerly the Portland Development Commission, will spend $5 million in urban renewal money on a parking garage the bureau is building in the River District, said Prosper Portland spokesman Shawn Uhlman
    http://www.oregonlive.com/portland/i...powers_bi.html
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  2. #2  
    Senior Member SVPete's Avatar
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    Looks like the outfit is another Solyndra boondoggle. US taxpayers have been stuck with a $197M "loan" as well as what Portland will be eating.

    This is example #532,481

    * Why government should not be picking winners and losers in business;

    * Why government should not by subsiding economically non-viable technologies;

    * Why government should not cause diversion of $$ from research into non-viable dead-end production equipment and facilities.
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  3. #3  
    Senior Member Ranger Rick's Avatar
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    Why government should not by subsiding economically non-viable technologies;


    Not sure I would agree to this, the NASA and the trip to the moon worked out pretty good.
    I dream of the day a chicken can cross the road without it's motives being questioned.

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  4. #4  
    Senior Member SVPete's Avatar
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    Quote Originally Posted by Ranger Rick View Post
    Why government should not by subsiding economically non-viable technologies;


    Not sure I would agree to this, the NASA and the trip to the moon worked out pretty good.
    Totally un-analogous, an apples-carrots comparison, if that similar. It's the same as saying that F-15 Strike Eagles work pretty good. Much as people in some cities might like to blow away the traffic through which they go to their jobs, no one is selling Saturn V or Strike Eagle derivatives to the general public, at any price.

    Solar power is being sold directly to the public with substantial subsidies (it's been as high as 75%), and the general public has been forced to subsidize solar and wind farm boondoggles by state laws forcing utilities to buy a certain % of their delivered power at well above market rates from "renewable" sources (the inflated price being, ultimately, paid by utility customers). Pull the plug on those subsidies, tax credits, and forced buys, and the wind/solar industries would collapse back to being spot sources for special circumstances.

    BTW, the cost and poor efficiency of solar panels - and the cost and maintenance of wind turbines - are not the Achilles heels of these technologies when it comes to becoming suitable for baseload power (Baseload = usable 24 x 7 x 52). The Achilles heel of solar is sunset. One Achilles heel of wind is that turbines are inefficient below a certain wind speed. No wind or too little, and the wind turbines are effectively offline. Another Achilles heel of wind is that turbines cannot operate safely above a certain wind speed. Put those two limitations together, and the bottom line is that wind turbines produce power intermittently. Neither can be online 24 x 7 x 52, and modern energy storage technologies are not capable of providing night/calm time ride-through.

    This ignores real-world issues like wind turbines chopping up birds, wind turbine noise that forces location away from populated areas, solar technologies that fry birds and affect airline pilots' vision, the costs of building and maintenance in remote locations, compliance with EnviroRegs, vast tracts of land necessary for solar or wind farms, mining and disposing of exotic materials used in the turbines and solar panels (some almost entirely sourced in China, BTW).

    Government investment in research can be justified, but subsidizing technologies that are decades away from viability and proper utility is a waste and ties up money in facilities and equipment that should have been used elsewhere.
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  5. #5  
    Moderator RobJohnson's Avatar
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    Quote Originally Posted by SVPete View Post

    Government investment in research can be justified, but subsidizing technologies that are decades away from viability and proper utility is a waste and ties up money in facilities and equipment that should have been used elsewhere.

    I agree.


    Warren Buffet's Nevada Energy drove residential solar out of the state. Why would a liberal hate renewable energy? He could not profit from it, lol.

    https://www.nytimes.com/2016/02/01/o...itch.html?_r=0
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