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US Taxpayers sudsidized Chinese Company. #4100274 05/18/16 04:46 PM
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HTSS_TR Offline OP
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A Chinese wind turbine manufacture will get millions dollar in subsidize by Federal Government for 10 years.

Originally Posted By: fuelfix.com
China-based Goldwind, the world’s largest wind turbine manufacturer, is buying into Texas for the first time with its largest wind farm in the U.S.

Goldwind is growing specifically in Texas as well. The Chinese company said this week it bought the developing Rattlesnake Wind Project that’s 125 miles northwest of Austin from United Kingdom-based Renewable Energy Systems for an undisclosed sum. The McCulloch County wind farm in Texas will consist of 64 of Goldwind’s 2.5-megawatt wind turbines. A planned second phase will eventually double its size.


http://fuelfix.com/blog/2016/05/18/chinas-largest-wind-company-blows-into-texas/

Originally Posted By: energy.gov
Rebate Amount

$0.023/kWh for wind, geothermal, closed-loop biomass
$0.012/kWh for other eligible technologies
Applies to first 10 years of operation


http://energy.gov/savings/renewable-electricity-production-tax-credit-ptc

Assume the efficiency of the turbines are 2/3 (because there are strong wind all the time), the tax subsidize for 64 turbines is $21,491,200 a year. If they double its size to 128 turbines in few years they will get $42,982,400 a year for the rest of 10 years period.

This is just one example of many subsidizes Federal and state governments provide to foreign companies of all sizes and all industries.

The worse thing is they produce these items in their homelands and export it to America, and we taxpayers pay part of their costs in the form of subsidizes.

Some of you, American, against subsidize(s) to American companies operate in America employing American workers, but quiet(approve ?) about subsidizes to foreign companies.

Last edited by HTSS_TR; 05/18/16 04:48 PM.

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Re: US Taxpayers sudsidized Chinese Company. [Re: HTSS_TR] #4100325 05/18/16 05:26 PM
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Re: US Taxpayers sudsidized Chinese Company. [Re: HTSS_TR] #4100338 05/18/16 05:38 PM
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Just another example of why you can't trust politicians around large sums of money.


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Re: US Taxpayers sudsidized Chinese Company. [Re: HTSS_TR] #4100365 05/18/16 06:07 PM
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Originally Posted By: HTSS_TR

Some of you, American, against subsidize(s) to American companies operate in America employing American workers, but quiet(approve ?) about subsidizes to foreign companies.


The doublespeak you type is pretty astounding.

Subsidies for Tesla are ok because they are an American company, operating in America, employing American. Yet your first defense when somebody questions this is to bring up the bailout... which was really just a subsidy for other American companies, operating in American, employing in American workers.

So what is it? Are you for subsidies for American companies, operating in American, employing Americans or is it that subsidies for Tesla are ok, but subsidies for other American automakers aren't?

Re: US Taxpayers sudsidized Chinese Company. [Re: HTSS_TR] #4100386 05/18/16 06:39 PM
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Did I say anything about Tesla in this story ?

In other story about Tesla subsidizes, some complaint about Tesla received approximately $450-500M in low interest loan from Federal Dept of Energy (or something like that) in 2010, but forget to add that Tesla paid off that loan plus some interest about 9 years ahead of time.

At the same time Tesla received that loan Ford received multi-billions dollar loan and Nissan received more than $1B loan from the same program, but nobody bother to post that.

Yes, Tesla survived because of that half billion dollar loan, but that was peanut compares with $50B GM received in the bail out in 2008, and US taxpayers lost $12B with GM bail out.

To you it is not okay for Tesla to receive half billion dollar loan, even they paid it all back plus interest, but it is good that GM got $50 billion bail out money and paid back only $38 billion ?

It is okay for Nissan to get more than $1B low interest laon from US tax payer but it isn't okay for Tesla to get less than half of that amount ?

What is your logic in this ? Subsidizing foreign companies is good but if the same subsidize to an American company isn't (even with smaller amount) ?

Tesla invests about $5B in Gigafactory in Nevada, they get a total of $1.3B incentive over 20 years, Faraday Future received $350M incentive from Nevada for investing $1B to build a manufacture plant there. Percentage wise Faraday Future received more incentives than Tesla, 35% vs 30%.

Everybody slams Tesla for this but say nothing about Faraday Future, by the way Faraday Future is backed by Chinese billionaire.

Don't you see double standard ? It is actually worse, supporting foreign companies while try to suppress American companies.


PS Federal Dept of Energy loans to car companies in 2010:

Originally Posted By: energy.gov
DOE announced January 28 that it has closed its $1.4 billion loan with Nissan North America, Inc. to build an advanced battery manufacturing facility in Smyrna, Tennessee, and to retool the automaker's existing Smyrna factory so it can build electric automobiles.

The Nissan announcement marks the third loan agreement signed by DOE with an advanced technology vehicle manufacturer, following a $5.9 billion agreement with Ford Motor Company in September 2009 and a $465 million loan agreement with Tesla Motors, Inc. on January 21.


Low interest loan to Tesla is 1/3 of the loan to Nissan and less than 10% of the loan to Ford.

Tesla received mich smaller loan but got slam for it, while others received much larger loan didn't raise an eyebrow, specially to Nissan a Japanese company.

http://apps1.eere.energy.gov/news/news_detail.cfm/news_id=15776

Last edited by HTSS_TR; 05/18/16 06:52 PM.

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Re: US Taxpayers sudsidized Chinese Company. [Re: HTSS_TR] #4100408 05/18/16 07:13 PM
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The taxpayers are mostly an ignorant lot.

Re: US Taxpayers sudsidized Chinese Company. [Re: HTSS_TR] #4100481 05/18/16 08:49 PM
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Foreign companies get tons of subsidies.

My question is why wasn't there an American company there to take the opportunity and get the subsidy instead?


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Re: US Taxpayers sudsidized Chinese Company. [Re: HTSS_TR] #4100638 05/19/16 04:33 AM
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Looks like the Chinese are bailing out the British who wants out on the project to me. Why aren't American companies bailing out the British instead of the Chinese is the question I would ask, and the answer is probably going to be because it is not profitable unless your industry lose contracts if you don't bail out your clients.

I see it as a lose lose situation where the Texan made a bet and didn't win in the short term. In the long term however it may be a good bet, just not a good ROI within 5-10 years.


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Re: US Taxpayers sudsidized Chinese Company. [Re: HTSS_TR] #4100641 05/19/16 04:40 AM
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Also looking beyond ten years, the wind turbines can reduce electricity price and the government can easily get the money back in economic activity and tax revenue. You can only tell decades down the road.


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Re: US Taxpayers sudsidized Chinese Company. [Re: CT8] #4100643 05/19/16 04:51 AM
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Originally Posted By: CT8
The taxpayers are mostly an ignorant lot.


They're proud to pay their taxes! They're thinking it's their civic duty.

Re: US Taxpayers sudsidized Chinese Company. [Re: PandaBear] #4100922 05/19/16 11:40 AM
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Originally Posted By: PandaBear
Also looking beyond ten years, the wind turbines can reduce electricity price and the government can easily get the money back in economic activity and tax revenue. You can only tell decades down the road.


I doubt the wind turbines will reduce the energy prices. Have you seen the prices they pay in Denmark? How about here in Ontario where our electricity rates have more than doubled due to all these "Green Energy" initiatives.

"Green energy" is expensive.


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Re: US Taxpayers sudsidized Chinese Company. [Re: HTSS_TR] #4100923 05/19/16 11:42 AM
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Originally Posted By: HTSS_TR

Assume the efficiency of the turbines are 2/3 (because there are strong wind all the time)


I think that is the most optimistic efficiency I've ever seen for wind. It is usually 20-40% (with 30% being the average figure used when calculating base-load requirements relative to the wind install).


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Re: US Taxpayers sudsidized Chinese Company. [Re: Nate1979] #4100926 05/19/16 11:43 AM
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Originally Posted By: Nate1979
Foreign companies get tons of subsidies.

My question is why wasn't there an American company there to take the opportunity and get the subsidy instead?


They are simply more savvy at getting the funding.

Re: US Taxpayers sudsidized Chinese Company. [Re: HTSS_TR] #4100932 05/19/16 11:47 AM
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My friend works in a power plant. He actually told me the wind mills take more power than they produce. They are supplied energy to keep them spinning non-stop. The wind then only assists and generates power. So by therory it takes energy 100% of the time but only generates approx. 30% so it's in the deficient. It's a big money racket v



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Re: US Taxpayers sudsidized Chinese Company. [Re: HTSS_TR] #4100966 05/19/16 12:19 PM
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why are they kept spinning non-stop? is somebody pulling your chain?

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