$2.2 BILLION SOLAR PLANT IN CALIFORNIA TURNED OFF AFTER YEARS OF WASTED MONEY: ‘Never lived up to its promises.’
“…The solar power plant, which features three 459-foot towers and thousands of computer-controlled mirrors known as heliostats, cost some $2.2 billion to build.
Construction began in 2010 and was completed in 2014. Now it’s set to close in 2026 after failing to efficiently generate solar energy.
In 2011, the US Department of Energy under President Barack Obama issued $1.6 billion in three federal loan guarantees for the project and the secretary of energy, Ernest Moniz, hailed it as “an example of how America is becoming a world leader in solar energy.”
But ultimately, it’s been more emblematic of profligate government spending and unwise bets on poorly conceived, quickly outdated technologies.
“Ivanpah stands as a testament to the waste and inefficiency of government subsidized energy schemes,”Jason Isaac, CEO of the American Energy Institute, an American energy advocacy group, told Fox News via statement this past February. It “never lived up to its promises, producing less electricity than expected, while relying on natural gas to stay operational.”…”
