And we thought $5 million per green job was a lot.
Sean Higgins at Investor’s Business Daily reports,
The Department of Energy is set on Thursday to announce whether nine federal loan guarantees amounting to $6.5 billion for green energy projects will get final approval.
The number of full-time, permanent jobs they would create? According to the DOE’s own figures, a grand total of 283. That is nearly $23 million per job.
We called Obama’s $5 million jobs a “fiasco.”
What is the word for “fiasco times 4”?
$737,000,000 loan for the 110MW Tonopah Solar Energy plant..
Assuming the plant averages 1/3 of the 110MW = 36MW.
36MW * 24HR * .06KWH(coal-nuclear-equiv.) = $51,840 per day.
$51,840 * 365 days = $18,921,000 per year.
$18,921,00 – $5,000,000 for interest and maintenance = $14,000,000 per year.
$737,000,000 / $14,000,000 = 52 years before the plant makes any money, assuming the plant lasts that long.
I wonder how much they are going to actually charge customers over the going rate for electricity to make money on this plant?
This is almost a thousand times less efficient than paying people $12/hr to dig holes and fill them back in. At least that way we’d aerate the soil and give a quarter million people some exercise.
This could be the poster child for our federal debt problem.