Link here to Los Angeles Times.
Driven by the Obama administration's vision of clean power and energy independence, the rush to build large-scale solar plants across the Southwest has created an investors' dream in the desert.
Taxpayers have poured tens of billions of dollars into solar projects — some of which will have all their construction and development costs financed by the government by the time they start producing power. Banks, insurers and utility companies have jumped in, taking advantage of complex state and federal tax incentives to reap outsized returns.
Among the solar prospectors in the Mojave are investor Warren Buffett's Berkshire Hathaway Inc., General Electric, JPMorgan Chase & Co., Morgan Stanley and technology giant Google Inc.
The cost for decades to come will also be borne by ratepayers. Confidential agreements between solar developers and utilities lock in power prices two to four times the cost of conventional electricity. The power generated by the mega-plants will be among the most expensive renewable energy in the country.As long as you are not a resident of California, what's not to love?
BRK-B hit a new 52-week high today. Just saying.
Disclaimer: this is not an investment blog; don't make any investment decisions based on what you read here.
Go to the linked story to see how much Californians get to pay for this privilege of going green.
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