Here’s another example of how government cronyism causes tax-payers to lose money on solar power scams. From Chicago, the home of government corruption we get this new fail. This time, for a change, it’s solar hot water heating systems made by a company called Solargenix Energy LLC.
In March 2004, then-Mayor Richard M. Daley announced a deal that promised to save taxpayer money, reduce natural gas consumption and bring “green” jobs to Chicago.
But taxpayers might see red when they learn how the deal turned out. More than seven years later, the initiative has been quietly suspended amid problems with some of the equipment — and acknowledgements by city officials that taxpayers will probably lose money on the deal and never realize the energy savings that Daley touted, the Better Government Association has learned.
So where’s the cronyism? Right here.
In the end, the BGA found that one of the few beneficiaries of the deal appears to be a businessman with close ties to Daley: United Service Cos. President and CEO Rick Simon, the former chairman of the Chicago Convention & Tourism Bureau and a South Loop neighbor of the ex-mayor.
Seems those solar panels didn’t work properly and now that they’re fixed, the cost to install them exceeds the cost of continuing to use natural gas to heat the water. Regardless of what type of solar it’s a theme that we seem to see more of such as the boondoggle solar installation in Yosemite, which may never really pay off financially.
We’ve seen government cronyism involved with Evergreen, Solyndra, Sun Power, Tonopah Star and now in Chicago. We wonder how many billions will be wasted before someone finally gets a clue that solar has a long way to go and that the government should keep their nose out of it.
If it’s so effing great, the free-market will invest! If it sucks, they won’t. A pure and simple way to save the tax-payers billions of dollars better spent elsewhere and possibly some day get solar that actually works and is cost efficient.
Source: Chicago Sun Times