Seen from the sky, the Ivanpah Solar Power Facility in California’s Mojave Desert resembles a futuristic dream.
Viewed from the bottom line, however, Ivanpah is anything but.
The solar power plant, which features three 459-foot towers and thousands of computer-controlled mirrors known as heliostats, cost some $2.2 billion to build.
Construction began in 2010 and was completed in 2014. Now, it’s set to close in 2026 after failing to efficiently generate solar energy.
In 2011, the US Department of Energy under former President Barack Obama issued $1.6 billion in three federal loan guarantees for the project and the Secretary of Energy, Ernest Moniz, hailed it as “an example of how America is becoming a world leader in solar energy.”
But ultimately, it’s been more emblematic of profligate government…
