Why Labor's solar plan in Victoria is a total crock. Only likely plant has already lost investors $130m

The utter naivety of the boosters of these green cons and ponzi schemes never ceases to amaze me. No matter how many times it is pointed out to them that none of the sums add up, they keep coming back for more! Let’s sum up. The only one of the five to 10 solar plants “promised” by the Brumby Government over the next decade that’s even likely to be built has already lost the original investors $130 million, with the new investors refusing to commit to actually completing the thing. It will provide uncertain and very expensive power, but only after the Victorian and Federal Governments agree to stump up the rest of their promised $130 million in handouts. But the Gillard Government is actually pulling money out of solar research, presumably on the grounds that this is an insane money pit. For instance: THE Gillard government has stopped funding Australia’s solar research centre. The University of New South Wales’ Photovoltaics Centre of Excellence - where the multibillionaire solar entrepreneur Zhengrong Shi studied - recently lost funding under the federal government’s Australian Research Council grants. In fact, Gillard thinks other useless and expensive mirages have more substance even than solar: Old car owners will score a $2000 rebate if they buy a new fuel-efficient vehicle, under a “cash for clunkers” scheme announced by Julia Gillard today… The $394 million cost of the scheme will be financed by cuts in several other climate programs, including $220 million coming off the solar flagship program. John Brumby is just one more green con man. Much more here.

Posted via email from Garth's posterous