Pile of US dollars only “green” in renewable energy loans

In 2008, Barack Obama pledged to create 5 million jobs over 10 years by directing federal funding toward renewable energy projects. But now, some 5 years later, the numbers are hardly encouraging for Green energy. According to the Institute for Energy Research, new numbers just released by the Obama Department of Energy show $26 billion dollars in federal loan guarantees since 2009 that have created less than 2,300 permanent jobs for an astounding cost of roughly $11½ million per job. When you add in federal tax breaks for renewables of more than $13 billion in 2012 alone, it seems the only green in this energy are massive piles of taxpayer cash.

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About the Author: David Rothbard

David Rothbard

David Rothbard is co-founder and President of CFACT.