“The public needs to know about the past costly failure of Mr. Smith as he lays out his vision for the proposed Birch solar project.
In March of 2013 Mr. Smith told the U.S. Speaker of the House:
• “Crescent Dunes is a success story and will be a tremendous achievement for U.S.-developed technology and the U.S. Department of Energy’s loan guarantee program.” The $1 billion Crescent Dunes project was to be the biggest solar plant of its kind and the developer was SolarReserve. Mr. Smith served as the CEO of SolarReserve.
As Bloomberg Businessweek reported regarding the Crescent Dunes project on January 6, 2020:
• “SolarReserve may have done its part, but today the company doesn’t rank among the winners. Instead, it’s mired in litigation and accusations of mismanagement at Crescent Dunes, where taxpayers remain on the hook for $737 million in loan guarantees. By the time the plant opened in 2015, the increased efficiency of cheap solar panels had already surpassed its technology, and today it’s obsolete—the latest panels can pump out power at a fraction of the cost for decades with just an occasional hosing-down.””
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LimaOhio.com 28 November 2020.