But look on the bright side, the $1.2 billion will have an immediate impact on the economy in the form of 900 temporary construction jobs which comes out to $1.3 million per job.
(LA Times) — The U.S. Energy Department hopes that a new solar energy project will result in about 900 construction and permanent operations jobs.
Energy Secretary Steven Chu said today that his department had finalized a $1.2-billion loan guarantee to Mojave Solar for the development of the Mojave Solar Project. When complete, the 250-megawatt solar generation project in San Bernardino County will increase the nation’s currently installed concentrating solar power capacity by approximately 50%.
Abengoa Solar Inc., the project sponsor, is the source of the estimate on construction and permanent operations jobs.
“Investments in solar generation facilities like the Mojave Solar Project are critical to our effort to create good, clean energy jobs in America and compete with countries like China in the global clean energy race,” Chu said. “This project will supply local utilities with energy, help drive down the cost of solar power and fund more than 900 American jobs, all at minimal risk to the taxpayer.”. . .
Federal agents recently executed a search warrant at the Northern California headquarters of solar panel manufacturer Solyndra Inc., which filed for bankruptcy protection last week despite receiving $535 million in federal stimulus loan guarantees.