Taxpayer-subsidized solar cell maker shuts down

Thomas Lifson
So much for green jobs being the wave of the future, as promised by President Obama. Taxpayer-subsidized solar cell maker Spectra-Watt has announced it is shuttering its plant. The Poughkeepsie Journal reports:

In a stunning reversal, the frequently lauded and taxpayer-funded SpectraWatt Inc. has told the state it will close its solar cell plant starting in March and lay off 117 workers.

The announcement was startling because in the past two months, the company, which had been promised about $8 million in tax dollars, planned to train more workers and changed its work shifts to enable a 24-hour operation.

The company blames the unusually cold winter in Europe:

"This action is undertaken in response to deteriorating market conditions resulting from a harsher-than-usual European winter causing a large drop-off in demand for solar cells.

Wait a minute! Aren't we subsidizing solar cells instead of building coal fired plants because we're supposed to be worried about global warming?

It is time to junk all these green power schemes before we waste any more money borrowed from China.

Hat tip: Bryan Demko
So much for green jobs being the wave of the future, as promised by President Obama. Taxpayer-subsidized solar cell maker Spectra-Watt has announced it is shuttering its plant. The Poughkeepsie Journal reports:

In a stunning reversal, the frequently lauded and taxpayer-funded SpectraWatt Inc. has told the state it will close its solar cell plant starting in March and lay off 117 workers.

The announcement was startling because in the past two months, the company, which had been promised about $8 million in tax dollars, planned to train more workers and changed its work shifts to enable a 24-hour operation.

The company blames the unusually cold winter in Europe:

"This action is undertaken in response to deteriorating market conditions resulting from a harsher-than-usual European winter causing a large drop-off in demand for solar cells.

Wait a minute! Aren't we subsidizing solar cells instead of building coal fired plants because we're supposed to be worried about global warming?

It is time to junk all these green power schemes before we waste any more money borrowed from China.

Hat tip: Bryan Demko