|Obama Gets Burned on Subsidizing GE|
|by Tom McGregor||Sun, Jul 8, 2012, 05:50 PM|
BEIJING: President Barack Obama declared a full-throttle trade war against China on the grounds that the US should ban solar panels manufactured in China, since it’s factories receive subsidies from Beijing.
While Obama issued this statement a few months ago, the federal government was subsidizing solar companies in the US with massive taxpayer-funded loans. Apparently, General Electric received substantial benefits for supporting Obama’s green policies.
EnergyBiz reports that, “it was to be the country’s biggest solar equipment maker. It (would) (get) exhibited (instead as a failure) by critics of President Obama’s green energy plan. In the spotlight now is General Electric, which has said that it will delay by at least 18 months the construction of a facility to build solar panels.”
GE was expected to manufacture thin-film solar panels that convert power from the sun to energy used for homes at a 12.5 percent energy efficiency rate. And while that is 4-7 percent less than those panels produced in China, GE said that its strong point would be cost – to be attractive that homeowners could not refuse.”
Many critics are blasting solar energy for soaking up scarce natural resources and not creating jobs.
written by Sean Gannon , July 09, 2012
This is Sean Gannon with GE and I'd like to set the record straight: GE is not receiving any federal subsidies for our solar manufacturing plant in Colorado.
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