• The Heritage Network
    • Resize:
    • A
    • A
    • A
  • Donate
  • green energy

    $14 Billion in Stimulus Spending Generates Just 1.2 Percent of Electricity

    Despite more than $14 billion in cash payments to solar, wind, and other renewable energy project developers since 2009, just 48 terawatt hours of additional annual electricity generation were expected to be added through funds authorized by the stimulus, according to documents released by the Department of Treasury. The more … More

    DOE-Backed Abound Solar Facing Fraud Investigation in Colorado

    Abound Solar, the now-bankrupt solar company and recipient of a $400 million Department of Energy loan guarantee, faces a three-pronged investigation from Weld County, CO, for alleged securities and consumer fraud, along with misleading financial institutions. The Denver Post reports: The securities-fraud investigation stems from allegations that “officials at Abound … More

    Politically Connected Company Wins Offshore Wind Lease Despite Setbacks

    A politically connected renewable energy company has received the go-ahead from the Interior Department to produce wind energy off the coast of Delaware, despite doubts that the project in question will actually materialize. Interior’s Bureau of Ocean Energy Management announced Tuesday that it had reached an agreement with NRG Bluewater … More

    Sign of the Times: Denver Post Challenged on Green Energy Coverage

    (Photo credit: Mary MacFarlane) A Colorado-based free-market think tank located in Denver challenged the state’s paper of record when it launched a media blitz that included a billboard (seen above) accusing the media outlet of ignoring one of the state’s largest green energy failures this year. Jon Caldara, president of … 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

    President Obama's Taxpayer-Backed Green Energy Failures

    It is no secret that President Obama’s and green energy supporters’ (from both parties) foray into venture capitalism has not gone well. But the extent of its failure has been largely ignored by the press. Sure, single instances garner attention as they happen, but they ignore past failures in order … More

    Another Green Failure: A123 Files for Bankruptcy

    A123, recipient of a $249 million Department of Energy manufacturing grant, warned of impending debt default and cash problems that forced the company to seek bankruptcy protection. With 14 straight quarterly losses–nearly $83 million in 2nd Quarter 2012 and $125 million in the previous quarter, on top of $258 million … More

    Taxpayer-Backed Green Energy Firms Subpoenaed by Federal Watchdog

    The Treasury Department’s top watchdog has opened an investigation into a popular grant program that helped finance a host of green energy projects, according to a recent SEC filing by one of the companies under investigation. SolarCity Corp. revealed in its initial public offer (IPO) filing that it has been subpoenaed by … More

    Energy Department Touts Solar Power That Generates 0.14% of Electricity

    The U.S. Department of Energy this week touted the growth of solar power, complete with an impressive chart that boasts, “Solar Generation Has a Bright Future.” Yet a closer look at solar’s overall role reveals that it represented just 0.14 percent of the total electric power generated and consumed in June. The … More

    Major Obama Bundler Steve Westly Rewarded With Convention Speech

    Venture corporatist Steve Westly benefitted personally and financially from President Obama’s push for green energy after supporting the president with major campaign contributions. Tonight he’ll take the stage in Charlotte, NC, for a high-profile speech. Westly heads up the California-based venture capital firm the Westly Group. He bundled more than $500,000 for Obama’s … More