One doesn’t even have to go looking for examples of the government wasting taxpayer money, there are so many. Like this one – a Canadian-owned solar plant in Nevada is set to receive up to $50 million in stimulus and it will employe 2 – yes 2 – full time employees. To make matters worse, the electricity generated will cost about 3 – yes 3 – times more than electricity generated by natural gas. I couldn’t make this stuff up if I tried. Good grief.
The Nevada Policy Research Institute has the details:
The company behind the recently opened Silver State North solar plant is eligible to receive up to $50 million in federal tax credits under the Obama administration’s “stimulus” legislation, even though the plant created only two full-time jobs.
According to a Department of Interior memo, Enbridge Energy Partners, a Canadian-based company with extensive energy holdings in the U.S. that purchased the Southern Nevada plant from Arizona-based First Solar, “can apply for payments of up to 30 percent of the eligible costs of the project — approximately $50 million.”
The payments are available through the 1603 Program, a special exemption in the Treasury Department created by the American Reinvestment and Recovery Act to “reimburse eligible applicants for a portion of the cost of installing specified energy property used in a trade or business or for the production of income.”
The program states that the “1603 payment is made after the energy property is placed in service; a 1603 payment is not made prior to or during construction of the energy property.”
Silver State North began service on Monday, May 7. Larry Springer, a community relations manager at Enbridge, confirmed to Nevada Journal the company intends to file a 1603 application for reimbursement.
Read the whole thing, there’s much more at the link.