{"id":1467259,"date":"2022-05-07T07:59:41","date_gmt":"2022-05-07T11:59:41","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1467259"},"modified":"2022-05-07T07:59:44","modified_gmt":"2022-05-07T11:59:44","slug":"taxpayers-gave-737-million-loan-to-a-failing-solar-energy-plant","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/taxpayers-gave-737-million-loan-to-a-failing-solar-energy-plant\/","title":{"rendered":"Taxpayers Gave $737 Million Loan To A Failing Solar Energy Plant"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ftaxpayers-gave-737-million-loan-to-a-failing-solar-energy-plant%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1467259&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><\/div>\n<p><em>By Adam Andrzejewski for RealClearPolicy<\/em><\/p>\n<p>The Crescent Dunes Solar Energy plant was created in 2011, when the U.S. government lent the company $737 million to generate power for 43,000 homes in Nevada. However, years of delays, mismanagement, and bankruptcy have plagued the project, leaving taxpayers guaranteeing a loan that should never have been made.<\/p>\n<p>According to an\u00a0<a href=\"https:\/\/www.reviewjournal.com\/opinion\/editorials\/editorial-failed-solar-project-offers-warning-2091618\/\" target=\"_blank\" rel=\"noopener\">investigation<\/a>\u00a0by the Las Vegas Review-Journal, the project\u2019s 10,000 mirrors were expected to heat molten salt in a 640-foot high tower. The salt would heat water, creating steam and the steam would create power. Everyone from the late Sen. Harry Reid to the U.S. Department of Energy touted its ambition, scale, and potential.<\/p>\n<p><strong>RELATED: <a href=\"https:\/\/thepoliticalinsider.com\/planning-a-summer-trip-better-include-pain-at-the-pump-in-your-budget\/\" target=\"_blank\" rel=\"noopener\">Planning A Summer Trip? Better Include Pain At The Pump In Your Budget<\/a><\/strong><\/p>\n<p>Unfortunately, it got off to a rough start. It began producing power in 2015, months behind schedule, according to the Las Vegas Review-Journal.<\/p>\n<p>Then in 2016, a leak took the plant offline. By late 2017, it was operational again, but experienced \u201cfrequent and prolonged outages,\u201d the newspaper quoted NV Energy as saying.<\/p>\n<p>In 2019, partial owner SolarReserve, said it \u201csuffered a catastrophic failure\u201d that required the removal of the solar tower, effectively decommissioning the project.<\/p>\n<p>The plant\u2019s owners entered into a\u00a0<a href=\"https:\/\/www.reviewjournal.com\/news\/politics-and-government\/200m-settlement-announced-over-bankrupt-tonopah-solar-project-2084328\/\" target=\"_blank\" rel=\"noopener\">bankruptcy agreement<\/a>\u00a0with the U.S. government in 2020, recovering $200 million of taxpayer funds.<\/p>\n<div id=\"subscribe\" class=\"email-signup inarticle\">\n<h4>Support Conservative Voices!<\/h4>\n<h5><strong>Sign up to receive the latest<\/strong> political news, insight, and commentary delivered directly to your inbox.<\/h5>\n<\/div>\n<p>Now, the project is back from the dead, with its owners entering into a\u00a0<a href=\"https:\/\/www.8newsnow.com\/news\/local-news\/solar-plant-near-tonopah-producing-power-for-nv-energy-after-stop-during-bankruptcy\/\" target=\"_blank\" rel=\"noopener\">contract<\/a>\u00a0to sell electricity to NV Energy during the summer months.<\/p>\n<p><em>Syndicated with permission from Real Clear Wire.<\/em><\/p>\n<p><em>The #WasteOfTheDay is brought to you by the forensic auditors at OpenTheBooks.com<\/em><\/p>\n<p class=\"disclaimer\">The opinions expressed by contributors and\/or content partners are their own and do not necessarily reflect the views of The Political Insider.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Adam Andrzejewski for RealClearPolicy The Crescent Dunes Solar Energy plant was created in 2011, when the U.S. government lent the company $737 million to generate power for 43,000 homes<\/p>\n","protected":false},"author":498,"featured_media":2315279,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1467259","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1467259","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/498"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1467259"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1467259\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1467259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1467259"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1467259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}