Remember Solyndra? That’s where taxpayers lost hundreds of millions of dollars after the Obama administration handed out money and the company took it and went out of business.
But how about Evergreen Solar? Or Beacon Power? Or EnerDel subsidiary Ener1?
They also took taxpayer money from the Obama administration for their “green” energy projects, and then filed for bankruptcy.
In fact, a new report from the Heritage Foundation says, “So far, 36 companies that have received federal support from taxpayers have either gone bankrupt or are laying off workers and are heading for bankruptcy.”
The companies cited were: (Money listed is how much was offered, and does not include other state, local or federal tax credits and subsidies. Asterisk notes that the company has filed for bankruptcy)
Evergreen Solar ($24 million)*
Solyndra ($535 million)*
Beacon Power ($69 million)*
AES’s subsidiary Eastern Energy ($17.1 million)
Nevada Geothermal ($98.5 million)
SunPower ($1.5 billion)
First Solar ($1.46 billion)
Babcock and Brown ($178 million)
EnerDel’s subsidiary Ener1 ($118.5 million)*
Amonix ($5.9 million)
National Renewable Energy Lab ($200 million)
Fisker Automotive ($528 million)
Abound Solar ($374 million)*
A123 Systems ($279 million)*
Willard and Kelsey Solar Group ($6 million)
Johnson Controls ($299 million)
Schneider Electric ($86 million)
Brightsource ($1.6 billion)
ECOtality ($126.2 million)
Raser Technologies ($33 million)*
Energy Conversion Devices ($13.3 million)*
Mountain Plaza, Inc. ($2 million)*
Olsen’s Crop Service and Olsen’s Mills Acquisition Company ($10 million)*
Range Fuels ($80 million)*
Thompson River Power ($6.4 million)*
Stirling Energy Systems ($7 million)*
LSP Energy ($2.1 billion)*
UniSolar ($100 million)*
Azure Dynamics ($120 million)*
Vestas ($50 million)
LG Chem’s subsidiary Compact Power ($150 million)
Nordic Windpower ($16 million)*
Navistar ($10 million)
Satcon ($3 million)*
The total? More than $10 billion.
Previously, it was reported A123, the maker of electric car batteries, sought bankruptcy to allow “the company to provide for an orderly sale of the automotive business assets and and all other assets and business units,” the company said.
About the same time, the Washington Times found a series of emails from solar power giant BrightSource Energy Inc. showing how the company “applied political pressure and used behind-the-scenes cajoling to win a $1.6 billion loan guarantee.”
And the IRS has argued regarding Solyndra that the bankruptcy plan “amounts to little more than an avenue for owners of an empty corporate shell to avoid paying taxes.”
“The undeniable conclusion is that tax benefits drive this plan,” attorneys for the IRS told the bankruptcy court.