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| Government |
| Taxpayers in 3 counties could be on hook for millions after solar project fizzles |
| 2015-02-16 |
| New Jersey carried Obama twice. They can damn well carry his debt. Like everything else, the Democrats want us to be more like Europe. Including the failed solar projects... [NJ] The concept behind the massive solar project sounded simple enough: borrow $88 million to install panels on public buildings in Morris, Somerset and Sussex counties and then sell excess electricity, using the revenues to pay off the debt. The concept was called the "Morris model," held up nationally as an example of how to produce renewable energy through public-private partnerships. It was the second project of its kind and the previous one was hailed as a success. But now, nearly four years later, taxpayers could be on the hook for tens of millions of dollars the counties owe bondholders, after work ground to a halt amidst cost overruns and lawsuits. |
| Posted by:Fred |
| #12 |
| Posted by: 3dc 2015-02-16 20:00 |
| #11 Remember "its all for the children" ? Well in this case many ecology citizens are glad the solar project fizzles, why ? Because "its all for the birds" they don't want the birds to sizzle ! Emergingsolar plants scorch birds in mid-air |
| Posted by: Pliny Lumumba7421 2015-02-16 14:35 |
| #10 Taxpayers in 3 counties could be on hook for millions after solar project fizzles That was intent all along--to scam the taxpayers out of their money. I suggest the people in these counties identify the culpable politicians and look for the closest lamp post. |
| Posted by: JohnQC 2015-02-16 11:20 |
| #9 "The bondholders will be paid, regardless of how," said John Eskilson, the Sussex County administrator. Makes you wonder who the actual bondholders are, doesn't it? |
| Posted by: Raj 2015-02-16 11:12 |
| #8 New Jersey...WAIT! Isn't that the fat guy? |
| Posted by: Skidmark 2015-02-16 10:23 |
| #7 > Screw the bond holders. Let them learn a bit about risk. and reverse a decade of American anticapitalism?! How dare you! These people deserve their money risk free and extorted from taxpayers. |
| Posted by: Bright Pebbles 2015-02-16 10:00 |
| #6 It happens in the windmill power area also... |
| Posted by: Mad Eye Phock6969 2015-02-16 09:26 |
| #5 "Nobody could have predicted this" - one expert claimed. |
| Posted by: Anguper Hupomosing9418 2015-02-16 08:30 |
| #4 Sell the bonds to Fannie Mae and Freddy Mac. |
| Posted by: Airandee 2015-02-16 07:31 |
| #3 Green fad suckers!!. Increase the meds please. We have to keep the delusion going and the money flowing. |
| Posted by: Dale 2015-02-16 07:15 |
| #2 Screw the bond holders. Let them learn a bit about risk. |
| Posted by: BrerRabbit 2015-02-16 06:07 |
| #1 There are tens of thousands of abandoned wind turbines in the U.S. Any type of energy source which could not be profitable without government subsidy will ultimately meet this fate. |
| Posted by: no mo uro 2015-02-16 05:44 |