• The Heritage Network
    • Resize:
    • A
    • A
    • A
  • Donate
  • bankruptcy

    The High Cost of Offshore Wind: Is Cape Wind the Next Solyndra?

    Opponents have called it “another Solyndra waiting to happen.” An estimated $2.6 billion offshore wind project near Massachusetts could be awarded a $350 million Department of Energy (DOE) loan guarantee and a 30 percent federal tax credit, according to recent reports. The much beleaguered 468 megawatt, 130 turbine Cape Wind … More

    VIDEO: Government Red Tape Leaves Illinois Man on Verge of Bankruptcy

    Government regulations cost Steven Lathrop decades of his life and pushed him into financial ruin, according to a new video released by Senator Ron Johnson (R-WI). Lathrop’s home of Granite City, Illinois, regularly suffered from storm flooding that damaged his neighbor’s homes, and even cost the taxpayers money in federal … More

    Obama Administration Plans to Spend $150 Million for Green Energy Projects (Because It’s Worked So Well Before)

    Just what America needs: More taxpayer-funded green energy projects. The Department of Energy (DOE) and the U.S. Internal Revenue Service released plans to re-allocate more than $150 million in remaining manufacturing tax credits for “green” energy projects originally authorized by the 2009 American Recovery and Reinvestment Act (the stimulus bill), … More

    DOE Sitting on Taxpayer Dollars Due to Negative Publicity

    Despite billions of dollars in unused loan authority remaining under the Department of Energy’s (DOE) Loan Programs Office, negative publicity surrounding the loan guarantee programs (which offer taxpayer dollars to government-approved companies) has tampered with applications, according to a new Government Accountability Office (GAO) report. More than $51 billion in … More

    Green Graveyard: ReVolt Technology Bites the Dust

    Bringing the number of tombstones in Heritage’s Green Graveyard to 20 is ReVolt Technology, a Portland-based company, which specialized in developing zinc-air flow battery systems. ReVolt earned its place in the Graveyard when it declared bankruptcy, despite the fact it had been offered a whopping $10 million in funds from … More

    Morning Bell: Can Hostess Save the Twinkies from the Union?

    Taking down the Twinkie. Clogging Wal-Mart parking lots on Black Friday. Messing with a major airport on the day before Thanksgiving. If unions are trying to be more popular with the American people, they’re doing it wrong. Americans have gone crazy over the possible loss of Twinkies, Ho Ho’s, Ding … More

    DOE Issues Nearly $1 Million to Ailing A123 on Day of Bankruptcy Filing

    The Department of Energy’s clean energy grant-making program delivered a reimbursement to ailing battery maker A123 approaching $1 million on the same day the company filed for bankruptcy, according to Reuters: The company, which makes lithium ion batteries for electric cars, filed for Chapter 11 bankruptcy protection last month after … More

    Green Graveyard: 19 Taxpayer-Funded Failures

    While there’s speculation over which federally supported green energy company may be the next to declare bankruptcy, plenty have already gone belly up. In one of the most extensive compilations to date, Heritage has identified 19 bankrupt green energy companies—unable to make it even with the $2.6 billion in financial … More

    America Doesn't Need a Federal Department of Subsidies

    Politicians too often confuse “free money” with “free markets”—that is, they consider themselves pro-business when they work deals that make some businesses happy, even though it usually comes at the expense of the overall economy. So it should be no surprise that President Obama claimed in a Morning Joe interview … More

    Another DOE-Backed Solar Company Goes Bankrupt

    A solar company that got a multi-million-dollar grant from the Department of Energy earlier this year announced Wednesday that it will file for Chapter 11 bankruptcy protection, making it the second taxpayer-backed green energy company to file for bankruptcy this week. Satcon Technology Corp. announced the decision in a Wednesday … More