California Built the World's Largest Solar Power Tower Plant

[karepmu]

"Sometimes, government makes a bad bet..." writes the Los Angeles Times. Opening in 2014, the Ivanpah concentrated solar plant "quickly became known as an expensive, bird-killing eyesore." Assuming that state officials sign off — which they most likely will, because the deal will lead to lower bills for PG&E customers — two of the three towers will shut down come 2026. Ivanpah's owners haven't paid off the project's $1.6-billion federal loan, and it's unclear whether they'll be able to do so. Houston-based NRG Energy, which operates Ivanpah and is a co-owner with Kelvin Energy and Google, said that federal officials took part in the negotiations to close PG&E's towers and that the closure agreement will allow the federal government "to maximize the recovery of its loans." It's possible Ivanpah's third and final tower will close, too. An Edison spokesperson told me the utility is in "ongoing discussions" with the project's owners and the federal government over ending the utility's contract. It might be tempting to conclude government should stop placing bets and just let the market decide. But if it weren't for taxpayers dollars, large-scale solar farms, which in 2023 produced 17% of California's power, might never have matured into low-cost, reliable electricity sources capable of displacing planet-warming fossil fuels. More than a decade ago, federal loans helped finance some of the nation's first big solar-panel farms. Not every government investment will be a winner. ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6 ny6