New Year, New Green Power Fail

The Detroit Free Press: California company cancels $177M Saginaw solar plant

A California-based solar power company says it's canceling plans to build a $177 million solar panel factory in Saginaw.

San Jose-based GlobalWatt Inc. said the project would create 500 jobs when first announcing it in 2009. At that time, Saginaw was one of two communities in the running for the project.

But GlobalWatt chief executive Sanjeev Chitre tells WNEM-TV that the Saginaw project now is on hold. He says a struggling economy and overseas markets are reasons for the move and says the company might reconsider if the market expands.

The tax subsidy being offered was around $84,000 per job being claimed to be created by the project. Now, no jobs will result.

Yet more vaporware "green jobs", brought to you by tax subsidies galore.

Of course, its not like this wasn't predicted: MEGA Questions Surround GlobalWatt, Another Green Industry Failure

Apparently, Democrats really suck at choosing Green Energy Winners and Losers while being great at throwing away tax money in the process.