A Bargain At Any Cost? —- $11.45 Million Per Green Job!!!

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From the IER…..

Without much fanfare, the Department of Energy (DOE) recently updated the list of loan guarantee projects on its website. Unlike in 2008, when Barack Obama pledged to create 5 million jobs over 10 years by directing taxpayer funds toward renewable energy projects, there were no press conferences or stump speeches. But the data are nonetheless revealing: for the over $26 billion spent since 2009, DOE Section 1703 and 1705 loan guarantees have created only 2,298 permanent jobs for a cost of over $11.45 million per job.

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I would note, that the list only references permanent jobs. But, even if you add the temp jobs (construction) the total is about 15,000 workers, (just eyeballing) And that still comes to $1.7 million per job. But, wait!!!  There’s more……

As the astronomical cost of the DOE’s loan guarantee program indicates, subsidizing renewable energy is not a good deal for taxpayers. But loan guarantees are just one of the ways the federal government bankrolls risky green energy projects. Energy-related tax preferences cost taxpayers about $13.5 billion in FY 2012, according to the Joint Committee on Taxation. But solar and wind power, for which the majority of the tax preferences for renewable energy were directed, produced only 3.6 percent of the nation’s generation in 2012. In addition, the Treasury Department’s 1603 grant program, which offers cash payments to renewable energy companies, cost taxpayers $5.8 billion in 2012. Many states also subsidize green energy through tax preferences as well as requiring renewable electricity mandates that require a specified amount of electricity to be generated from qualified renewable sources like wind and solar.

Nice, just last year we wasted $20 billion on this insanity.  What could be done with $20 billion?

h/t Breitbart

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12 Responses to A Bargain At Any Cost? —- $11.45 Million Per Green Job!!!

  1. PhilJourdan says:

    Would you call a press conference to say you are going to spend over $57 TRILLION to create 5 million jobs?

  2. DirkH says:

    Gleick demolishes astronaut Harrison Schmidt; writes “FALSE” 6 times on a printout of Schmidts WSJ article, scans it and posts it on twitter. Skeptics desperate! Warmists bi-winning – Gavin chimes in, demolishes moon astronaut Schmidt by calling him an “idiot”. CO2AGW reaches all time highs.

    http://wattsupwiththat.com/2013/05/09/nasas-gavin-schmidt-climateofgavin-goes-full-emotional-rorts-himself-with-an-unsupportable-claim-gleick-plays-me-too/

    • PhilJourdan says:

      Just more projection from the left. Any wonder where Popeye gets it from?

    • suyts says:

      It’s a new form of science. Just stick your fingers in your ears and scream “I can’t hear you!!!”

      Gleick is funny. It’s false that CO2 increases agricultural production? He thinks CO2 causes extreme weather? LOL! Yeh, tornado incidence is down but CO2 caused tornadoes are up!!!! 😀

  3. grumpydenier says:

    Steady up chaps, y’all getting in a ‘spin’ agin.

  4. leftinbrooklyn says:

    Please sir, may I have another?

  5. some people are getting rich from that money… they can afford to subsidize ”Warmist commenters” on the net. You guys should start to give respect to those ”Warmist commenters”; you are financing them, indirectly…

  6. tckev says:

    It would be interesting to know how many of these ‘alternative energy’ companies are oversea entities. How many are through unaccountable off-shore companies? How many use ‘tax efficient’ methods to withhold taxes?

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