N&R above the fold (again—that means it’s really, really important) story on North Carolina’s cut of more than $50 million in loan guarantees and grants from the U.S. Department of Agriculture for solar energy projects.
Some of the money will make its way to the Triad area:
….Another Alamance County company, Buckner Crane & Rigging, received a REAP grant of $9,000 to replace outdated lighting in its Graham headquarters with energy-efficient LED fixtures.
The lighting system will pay for itself in three years, thanks to the grant.
“I think it cost us about $14,000 out of pocket,” said Gene Stewart, Buckner’s purchasing manager. “And then within three years, it will cost us nothing. So it was a no-brainer.”
I’m having trouble figuring out how something pays for itself when it’s not paid for to begin with? That’s right, taxpayers are paying for it, and we’ll wait for our payback to arrive in the mail, I guess.
This is solar economics at work—problem is —as my JLF colleagues have done a great job pointing out—- solar economics don’t work.
