You will go green or else.
Via Watchdog
Another big solar company is coming to New Mexico, and the people of the Land of Enchantment can only hope things turn out better this time around.
SolarCity, the brainchild of billionaire Elon Musk, officially opened for business Thursday in Albuquerque in an 18,000-square-foot facility that will offer 30-year loans to customers wanting to bring solar power to their homes while promising them lower electricity rates.
“We can get customers clean power and at more affordable rates,” Nathan Jarrell, SolarCity regional vice president, said during a ribbon-cutting ceremony.
But a number of other high-profile solar ventures have flopped badly in New Mexico in recent years, costing state taxpayers more than $27 million.
Schott Solar
In 2012, the Mainz, Germany-based company made headlines when it announced its 200,000-square-foot plant in Albuquerque employing 250 employees was closing up after less than two years in operation.
The shock turned into anger when taxpayers learned that Schott Solar was not legally required to return one dime of the $16 million in grants because the administration of then-Gov. Bill Richardson did not attach any clawback provisions to the money when the deal was announced in 2009.[…]
Advent Solar
New Mexico taxpayers were left on the hook when Advent Solar went belly up in 2009 after China undercut the solar market and the U.S. economy went into recession.
The deal was similar to the Schott transaction, but instead of going through the state’s Economic Development Department and the Legislature, Advent Solar received nearly $17 million from the State Investment Council and its private-equity arm.
The State Investment Council managed to recover about $1.5 million after Advent’s assets were acquired by another company at a fraction of the project’s original investment. Taxpayers were left footing about $15.5 million.[…]
State Rep. Antonio “Moe” Maestas, D-Albuquerque, a nine-year veteran of the Legislature, said he thinks things will be different this time.
“SolarCity appears to be the leader in the solar industry in the country,” Maestas told Watchdog.org. “I believe it has the organization, capacity and capital to lead the way in solar in New Mexico.”
While Wittenberg said the new Albuquerque operation won’t get money from the state, SolarCity does get plenty of help from federal taxpayers.