Solar company that got millions from Oregon to suspend Portland operations

quote The company got a $10 million loan and $20 million tax credit from state and local agencies. The Oregon Department of Energy signed off on the $10 million loan, half of it guaranteed by the city of Portland and the Portland Development Commission. The company is current on the loan, and if it defaults, the agency is first in line for the company's Portland equipment, said Energy Department spokeswoman Diana Enright. In addition, the state's Business Development Department approved a $20 million tax credit that stood to net the company $13.5 million after it sold the credits at a discount.

Looks like another $23.5 million loss to taxpayers. I'm sure the ones who approved these incentives will be glad to pay for the losses.

We aren't supposed to work for profit--just the good of the people.

Since this employed people for awhile, that means it was good!

We will see more. It is just plain not viable no matter how much people want it to be. The road to ruin is paved with...............

Looks like they were charging too much for a inferior product. The Chinese and Germans have a leg up in solar from what I've read.

Not sure if the tax payers of the State are out 23.5 million or not according to this article.

[This message has been edited by newf (edited 04-24-2013).]

quote Originally posted by newf: Looks like they were charging too much for a inferior product. The Chinese and Germans have a leg up in solar from what I've read. Not sure if the tax payers of the State are out 23.5 million or not according to this article.

Probably has a lot to do with the fact that solar gives you very little in return for your investment and people are just not interested in throwing money away on them when it's a lot more fun wasting money on a quad or other such recreational vehicles or products like a big screen tv.

quote Originally posted by Red88FF: We will see more. It is just plain not viable no matter how much people want it to be. The road to ruin is paved with...............

Solar Panels?