Monday, August 15, 2011

Heavily Subsidized Solar Panel Company Goes Bankrupt

As I've been saying for years, solar and wind will never replace fossil fuels and nuclear in providing a source of base load electricity.  The heavily subsidized and pet company of Obama, Evergreen Solar, filed for bankruptcy today.  Solar is loved and supported by the Liberals as the saving technology to all that is wrong with the US.

They received $43 million in MA state subsidies but closed their US factory in January 2011 and laid off 800 workers and moved those jobs to China.  Seven months later, they are bankrupt.

Nobody wants solar power.  It only works when the sun is out and it's way too expensive for any reasonable person.  It is a waste of money for the government to subsidize.  The beauty of the free market is that industries like wind and solar will eventually fail.  Only tax payer subsidies keep it alive longer than it should.

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