After almost a dozen solar companies who got large sums of taxpayer dollars have gone bankrupt after the CEO donors paid themselves and donated back to the party news of this program came as no surprise, but still manages to turn stomachs.
The Obama administration distributed $9 billion in economic “stimulus” funds to solar and wind projects in 2009-11 that created, as the end result, 910 “direct” jobs — annual operation and maintenance positions — meaning that it cost about $9.8 million to establish each of those long-term jobs.
At the same time, those green energy projects also created, in the end, about 4,600 “indirect” jobs – positions indirectly supported by the annual operation and maintenance jobs — which means they cost about $1.9 million each ($9 billion divided by 4,600).
Combined (910 + 4,600 = 5,510), the direct and indirect jobs cost, on average, about $1.63 million each to produce.
As explained in a report by the National Renewable Energy Laboratory, which is part of the U.S. Department of Energy, the American Recovery and Reinvestment Act (“economic stimulus”) of 2009 included Section 1603, a grant program run through the Treasury Department.
The 1603 program offered “renewable energy project developers a one-time cash payment” to reduce the need for green energy companies “to secure tax equity partners” and also help them to achieve “ ‘the near term goal of creating and retaining jobs’ in the renewable energy sector.”