'Cleantech' gets clocked by '60 Minutes,' and the usual suspects try to make lemonade

Article Highlights

  • Despite massive taxpayer-funded subsidies, ‘clean energy’ is a failure because it remains far too expensive to compete in the marketplace.

    Tweet This

  • That list is only a subset of the dear departed whose headstones litter Heaven’s Eternal Garden of Federal Clean Energy Subsidy Boondoggles Memorial Park.

    Tweet This

  • These subsidy programs yield only pure resource waste and excessive costs even as they represent a federal trough for special interests, one at which only white elephants feed.

    Tweet This

Despite massive taxpayer-funded subsidies, ‘clean energy’ is a failure because it remains far too expensive to compete in the marketplace.

Abound Solar. A123 Systems. Beacon Power. Brightsource. Compact Power. ECOtality. Ener1. Evergreen Solar. First Solar. Fisker Automotive. Nevada Geothermal. Range Fuels. Solyndra. SpectraWatt. SunPower. Vehicle Production Group. Vestas.

These names are inspiring, uplifting, and so very green. And there are many more, as that list is only a subset of the dear departed whose headstones litter Heaven’s Eternal Garden of Federal Clean Energy Subsidy Boondoggles Memorial Park. Earlier this month, 60 Minutesbroadcast a report on the unbroken string of failures endured by taxpayers under various Department of Energy subsidy programs for “clean” and “renewable” energy — adjectives curiously devoid of actual definition — a political/bureaucratic effort comprising subsidized loans, grants, price supports, tax credits, guaranteed market shares, and other such subventions, all authorized by Congress amid the deafening self-applause so characteristic of the Beltway. Thus does the federal black hole — politicians, bureaucrats, and “experts” joined at the hip — consume vast amounts of resources financed with other people’s money. This is part of an endless effort to prove that they are just as smart as real businessmen, and, of course, is on endeavors which subsidize their various constituencies.

“Cleantech” is the sanitized term for this broad array of subsidized energy technology beneficiaries: firms producing batteries, solar devices, wind power components, “efficient” autos, “alternative” electricity, “renewable” electric generating facilities, ad infinitum. Together with “clean” and “renewable,” Cleantech is a word that obscures the less-than-clean, life-or-death tug of war among interest groups competing for snout privileges at the federal “clean energy” trough. As an aside, under some conditions, particularly when the subsidies take the form of an investment tax credit, no actual “clean energy” output is needed for the subsidies to flow. The term hides also the unreported reality that there is little “clean” about “clean energy”: It has environmental advantages over conventional energy only if we ignore the adverse environmental effects of “clean energy.”

Access the full article at The American.

Also Visit
AEIdeas Blog The American Magazine
About the Author

 

Benjamin
Zycher

What's new on AEI

How the Common Core went wrong
image Election countdown: The mood, measurements, and mechanics
image Rubio's defense speech: Fearless, informed, and refreshing
image Sorry Kerry, there is little role for Iran in fighting ISIS
AEI on Facebook
Events Calendar
  • 22
    MON
  • 23
    TUE
  • 24
    WED
  • 25
    THU
  • 26
    FRI
Monday, September 22, 2014 | 2:30 p.m. – 4:00 p.m.
Policy implications of the new US labor market normal

We welcome you to join us as a panel of economists discuss US wage and price prospects in the coming months and the implications for the Federal Reserve’s current unorthodox monetary policy.

Event Registration is Closed
No events scheduled this day.
No events scheduled this day.
No events scheduled this day.
No events scheduled this day.
No events scheduled this day.
No events scheduled this day.
No events scheduled this day.