5 Jobs and a 35% Rate Hike

Nevada Journal - BOULDER CITY, Nev. — President Obama will tout investments in “renewable” energy Wednesday at the local Copper Mountain Solar 1 plant, although the plant has only five full-time employees. The plant, owned by San Diego-based energy company Sempra, was built in late 2010 at a cost of $141 million. Funding included $42 million in federal-government tax credits and $12 million in tax-rebate commitments from the state of Nevada. Construction of the plant involved over 300 part-time jobs, but currently only five full-time employees operate the plant, a Sempra spokeswoman confirmed. That comes out to $10.8 million in tax-dollar subsidies per employee. Solar 1 is the largest solar photovoltaic (PV) power plant in the country and is regarded as a “revenue generator” by Sempra. According to the Las Vegas Sun, Boulder City expects to receive over $60 million in lease revenue from the plant. Boulder City Manager Vicki Mayes, however, told Nevada Journal the $60 million was "highly inaccurate" and that the total lease revenue will be "much less."

Increasing green-energy production has been one of President Obama’s main goals since he took office. Politicians such as Senate Majority Leader Harry Reid and officials including Secretary of Energy Steven Chu have zealously encouraged green-energy subsidies in Nevada. In addition to wanting to create many new jobs, President Obama has claimed green-energy investment will decrease America’s energy costs and reduce the country’s dependency on foreign oil. In Boulder City, however, renewables have produced no lower energy costs. Instead, in late 2009, the city approved a 35 percent rate hike, while power generated by Copper Mountain is to go to Southern California — rather than serve Nevadans whose taxes helped finance the plant. Read full story here: News New Mexico

5 Jobs and a 35% Rate Hike