The Gillard Green Energy 10 billion slush fund will create jobs alright ; but in China , not here. China exports 95% of it's solar panel output and if Labor thinks we will compete with our over-regulated and over-taxed high cost labor force they are in cloud-cuckoo land. Most of the slush fund will disappear overseas after lining the pockets of the local wind and solar agents with their fat commissions. Some examples of the US experience are below.
NEW YORK -(Dow Jones)- General Electric Co. (GE) plans to shut down its only solar-panel manufacturing facility, as it found that prices for panels fell below production costs, Clean Technology Insight has learned.
"On October 23 we announced the restructuring of our solar business to employees and our intent to close the Newark [Del.] facility," said Milissa Rocker, spokeswoman for the company, in an interview.
GE's production facility is a victim of a rapidly evolving solar market, where older U.S. plants are shutting down, reducing production, or outsourcing abroad, even as some foreign manufacturers, like those from China, plan to open new manufacturing in the U.S.
After receiving billions in loan guarantees from the federal government and benefiting from high praise from the president himself, a Silicon Valley company that specializes in manufacturing solar panels plans to shutter one of its two factories and lay off hundreds of workers, according to multiple media reports.