As the mantra “Save the planet!” is heralded throughout the world, solar electricity has been the envisioned as a magic cure-all. Yet, magic is ever so illusive and begins to fall apart in terms of real world feasibility and monetary costs.
Let’s first look at solar energy stocks as investors are increasingly wary—as public and private solar energy firms financially go south. Many of the manufacturing companies in the top ten were showing signs of distress. Six of the top ten Solar Energy Manufacturing/Generating Company Stocks are manufacturing companies, and four of the six firms, along with the privately held U.S. government funded Solyndra, have lost over 90 percent of their value in a four year investment period. Each of these devalued firms is owned by the French, Germans, and U.S. The two that remain standing are China-owned firms, and they have devalued as well.
As for all publicly traded companies involved in conversion of sunlight into energy, 40 percent of 62 firms are, as of May 2012, valued at 0 to less than US $1.00. Many of these are either bankrupt or sliding down that slippery slope to financial demise.
As for private firms “Guaranteed U.S. Department of Energy Loans,” the manufacturing firms have been funded US $1.382 billion—US $1.034 billion on Solyndra and Abound Solar. Solyndra went bankrupt in September 2011, and Abound Solar appears to be galloping in the same direction. It is not clear as to whether any of the 1.034 billion tax dollars will ever be recovered.
It is appalling to me that with devalued stocks and wasted U.S. tax payer dollars, bankrupt firms continue to promote their “superior, cost effective products.”
Thus, in the wake of financial follies, promoters continue to mislead and make promises that all is well in Solarville. For instance, the most publicized bankruptcy, Solyndra, continues, as of May 2012, to promote its proprietary, cost effective designs—eight months after having declared bankruptcy.
“The greatest friend of a con artist is lack of knowledge.”
Forewarned is foretold! Stories abound. We start with a few stories and continue to add-to and amplify on the facts as they come to light through media publications, U.S. Government web sites, and field research.