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.
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…
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The Delinquent Teenager
Climate Ponderings 