The Latest Green Energy / Stimulus Failure
The goal: train 124,893 people for green jobs and place at least 79,854 (63%) of them into jobs. Let’s suspend the fact that spending $500 million on training grants with only a little more than 50% placement goal seems like a bad return on investment.
Even worse than the initial goal is that now, 17 months later, just 52,762 were trained and only 8,035 (15%) found jobs. So to recap: $500 million spent to train 52,762 people (that’s $9,476 per person) for green jobs, and only 8,035 got jobs afterwards.
The funding for this program came from the “stimulus,” which paid for such “green” energy successes as Solyndra, Beacon, Amonix, EnerDel, Evergreen Solar, SpectraWatt, SunPower, and others.
Do we need more evidence that President Obama’s focus on the alternative fuel industry was a complete bust? Perhaps he is not learning why the private sector decided not to invest in these risky endeavors.