There
is such a demand for renewable energy that two foreign owned companies are
laying off workers. Even a tax credit
worth $84 million couldn’t help this pie-in the-sky fantasy. The Heritage Foundation reported the
following:
A
pair of foreign-owned solar companies that benefited from a combined $84
million in Energy Department tax credits have announced they will lay off
employees.
One
of the companies, German-owned SolarWorld, was integral in the fight for tariffs against the
importation of Chinese photovoltaic solar panels. The other, Chinese company
SunTech, blamed those tariffs for its own layoffs.
Both
companies benefited from the Energy Department’s stimulus-funded Advanced
Energy Manufacturing (48C) Tax Credit. The 48C credit is worth up to 30% of the
cost of manufacturing qualifying green energy projects.Both companies announced this week that they will shed some employees. SolarWorld, which announced a 47% revenue decline in the third quarter, blamed a potential 37 layoffs at its Oregon plant on “illegal” Chinese trade practices.
SunTech
said the U.S. International Trade Commission’s
35.95% tariff on Chinese solar panels was partially responsible for the 50
impending layoffs at its Arizona production facilities.
To
tariff, or not to tariff: that is the question.
I have a better one: why don’t we let the market place determine the
worth of these companies?
Just
think, we have four more years of these incompetent boobs running the
country. Isn’t that comforting?
Source:
http://blog.heritage.org/2012/11/16/two-more-stimulus-backed-solar-companies-announce-layoffs/
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