Solar panel factories in the United States are going broke, except the ones China is building.
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- Опубликовано: 11 сен 2024
- US solar panel companies rushed to build new factories, as the Inflation Reduction Act promised to shower hundreds of billions of dollars on green energy firms that would reduce America's dependence on China. Even foreign firms joined in, including major companies from China, Korea, and Europe, setting up joint ventures in the US.
First Solar, a US company, was believed to be in the best position of all, after company insiders invested heavily into Joe Biden's election effort, and hired longtime friends of key officials who wrote the key provisions of the IRA.
All these investments are now imperiled by crushing Chinese competition, which has pushed solar panel prices far below those companies' cost of production. Predictably, they are asking their lobbyists in Washington for relief, warning that they will go out of business. They have paused or outright canceled their planned factory builds, and only Chinese-partnered companies are continuing US production.
Resources and links:
Reuters, Many US solar factories are lagging. Except those China owns
www.reuters.co...
Reuters, Insight: US solar panel manufacturing boom threatened by cheap imports
www.reuters.co...
PBS, Biden’s Inflation Reduction Act aimed to boost renewable energy. Subsidies could help one company reap billions
www.pbs.org/ne...
Hanwha company page
www.hanwha.com...
Sunk cost definition and applications, from Investopedia
www.investoped...
Chart, US solar prices vs global spot
www.reuters.co...
China solar module prices dive to record low
www.pv-magazin...
Closing scene, near Suzhou, Jiangsu
In America, it's called "lobbying"; in other countries, it's called "corruption".
Bribery!
The Chinese call it "legal corruption"
Good one. I agree...
@@llkk290Chinese call you Mud
Americans love to twist their words:
# Bribery >> Lobby
# Subsidy >> Grant
# Declaration of war >> Authorisation on the use of US military forces.
# Indiscriminating attack / bombing on other countries >> Wars on terror.
# Blatant provocation on other nation's territorial waters >> FONOP.
Everything in America is a kickback. Never helps regular people. Just rich get richer on taxpayer subsidies.
Menendez multiplied by 354 plus a few more.
True, and sad
Hard to get out of poverty in one generation (unless the government helps). Otherwise it just has to start with one parent or or one person with a lucky break. Then build on that.
You elected or voted into power, it's democracy, they are your respentation.
4 years is around the corner, line up for your vote
You scratch my back, I scratch your conscience.
CHINA IS NOT THE PROBLEM.
Agree, It is not
You are right, they just make their job efficiently
China is always the problem to the U.S., as it's its bogeyman.
China is a problem for western oligarchs as they cannot do price gauging anymore as of now. But they will try to bring Harris in and rinse and repeat again.
It’s the solution 😂
SO EASY TO BLAME CHINA FOR YOUR POLICIES.....
Yes, so true
Blame your competitor, if you lose.
CORRUPTION Kills not only the companies also the government, the country and the taxpayers 🥺
@@jonathanfriedlander8563 you have to admit China has been very clever… stealing technology… long list of smiling knife practices …. The Clinton’s supercharged the demise of America … do your research… regardless unlikely able to fix anything America is in a death spiral 🌀
@@suilim7206injustice kills civilization
It's hard to believe that some people still listen to the American government.
I sure don't. Good comment
China haters do.
They should realized by now that US gov is extremely volatile and unstable. Policy and priorities changes every 4 years, not suitable for long term plans.
@@nicogun7177 Not even for mid-term plans. The U.S. is broke and corrupt.
Those people are programmed
US, the best democracy money can buy.
💯✅️💯✅️
nice! good way to sum up!
you meand debt?
China spends lots on infrastructure, education and heath. That's why its companies do well. Less stress on payroll!!
Of course the "argument" would be "THEY PAY MUCH LESS!!!"
.
(But I bet the cost of living and quality of life is much better in China!?)
Better infrastructure lowers costs for transport of components and finished goods. Plus vehicle need lower maintenance costs because they don’t suffer the wear and tear of driving on US roads. Plus lower commute costs for their workers. In the west these are profit centres for banks to profit from.
Great comment
Nationalized infrastructure. The US is privatized. You pay a US company for electricity, you pay a company for telecom, and so on. Every step embeds more and more profit-taking, so of course the price is not competitive.
@@ZweiZwolfwhere China does things like transfer money or assets from it State Owned enterprises to fund a National Pension Plan
Americans are funny that way it’s every one for themselves
But they sure care if you stand up for the flag or not or if you go to war
So selfish… they really should be thinking
Someone flys a plane into an American building
As long as it not my family and anyone I know
I recently watched a documentary about US subsidy to drone manufacturing to compete against Chinese DJI drone company. DJI has the top of the line manufacturing, employs over 14,000 employees and produces drones touted as the best in the industry. The US company in the documentary was a drone company with about 7 employees, hand-making drones many times more expensive than what DJI produces. Does this make sense to anyone?
Yeah... Because many westerners, still think the red book thumping Chinese are brain wash Ed
When I fact we are the ones who are brain wash ed
If our general populations knew the truth we would be protesting on the streets
Getting out competed by a Country whose population was 88% in abject poverty in the 1980s knee deep in the mud of their family rice paddy plot or making 1 dollar a day on a factory floor. These days they are the ones using automation and will take the lead in that in the future, not us
it is clear as day
Of course. It’s part of the Crime Reduction Act.
No, stupidity - good comment
Have you seen how they make facemasks? Do it quick. They have most gone out of business.
Corruption in the west is mostly blamed on Nigeria and such countries. US is actually worse! Is the green industry really meant to make a few rich?
Great comment
Supposed to, but someone else seems to be playing the game better than they can 😂
Buddy….. your delivery of the truth is exceptional…. D.C. is the root cause of Americas failures… nothing is going to change for the better…. At least not for Americans
GREAT comment, you are right
Very true. No one could destroy America but American. Hope someone will wake up to stop such self destruction before it becomes beyond rescue.
@@ken3700 - Wall Street & Silicone Valley are the roots of this dysfunctional system.
If we elected 100% new House, Senate & President, then moved the capital to Wichita, nothing would change.
The system is irreparably broken. Those who figured out how to use our Constitution against us are not going to allow us to vote our way back to functionality. They're not scared of us and they don't respect us. So, unless they are scared for their health, why would they return power to the people?
@@koneos6580up until the 1990s I was pro American
Stopped because America kept doing stoooopid after stoooopid
Kevin is just highlighting the recent stoooopid after recent stoooooopid
DC run by satanist.. One of the three Obelisk Cities, next to Vatican ( Sovereign on its own)
London City ( Sovereign on it own)
The US government and the public have not figured out one thing, that is, the financial industry is the industry with the highest return rate and the most stable in the United States. Primary school students all know that investment should choose industries with high returns and low risks. If the US government does not break the status quo of high returns and low risks in the financial industry, it will be impossible to transfer funds and talents from the financial industry to the manufacturing industry, and the US manufacturing industry will not be able to recover. Senior government officials, congressmen, and wealthy people in the United States have made a lot of money in the financial industry, and they have no intention of changing this situation. The middle class and high-end talents in the United States are also beneficiaries of the financial industry, so they have no intention of changing the status quo. This has led to the low-income groups in the United States eager for the revival of the US manufacturing industry to obtain employment opportunities, but the reality is that the government has subsidized companies with hundreds of billions of dollars but has hardly brought any changes. For example, Intel received tens of billions of subsidies but suffered a historic loss. Where did all the money go? "Make America Great Again" is just a psychedelic drug to appease the lower-class people in the United States. The elite class that holds national power and wealth has no intention of changing the status quo.
we all know this but americans do not seem to. no one thinks an overthrow of the system is needed. democracy also breeds dictators but hardly anyone feels that way becos of propaganda.
💯✅️💯✅️
Middle class doesn’t have the power to change.
And, we say Xi Jinping is a dictator who wants to reduce the gap between the wealthy and the poor.
..about that Financial Industry, similar to the situation in 🇺🇸, the 🇬🇧 , and 🇦🇺 are in the same boat.
Manufacturing is on its last legs.
The US Technolgy is 20 years old. It's a joke
To be fair, the technology that First Solar are using (thin film CdTe) is way more modern than the bulk Si technology used by the majority of the Chinese producers. It has two problems - the first is that it contains cadmium, which is highly toxic and subject to significant restrictions in a lot of territories. The second is that the original pricing model was based on the idea that the somewhat lower efficiency of the thin-film cells would be offset by much lower costs - except that in the mean time the Chinese have managed to reduce the costs of bulk Si PV production so much that the lower cost argument just doesn't work any more - the "primitive" bulk Si panels the Chinese are making are now both somewhat more efficient AND cheaper, just through the effect of massive efficiencies of scale. This is the same effect that took Solyndra out - they were using a different thin-film technology (CIGS), but once again they built their business model around an assumed costs per kW of installed capacity that valid at the time but far far higher than the price of the product currently in the market, which is why they ended up unable to raise any more funding.
Not so.
US manufacturing of this kind of stuff is typically best of breed because capitalistic markets demand best technology.
But today's market conditions are likely so bad it makes no sense to build a factory but China doesn't make market based decisions and doesn't recognize completing factories will just contribute to future over capacity.
@@joelturley4847 keep that up; that's how the humble turtle won the self-assuming hare.
the world need way more green energy than now if you want global net zero, if anything China is still undercapacity. You are getting fool by those who enslave you.
@@joelturley4847 Here's nothing, US drone. Thank you for your service, chump!
This is one of the most useful channels I have come across for information.
If only news channels could be like this.
Fully agree - love the TRUTH (REAL)
You can bet the USA will arrest him in a local airport and try to shut him down like they do everyone else in the USA and UK that speaks the truth.
Here in Australia our stupid government just gave a start company $1B for solar panels. What is wrong with these people? Problem is they just don’t care.
No. The government people are not stupid. They are very smart people.
They enriched someone and possibly themselves with your hard earned money and you voted them in. It may not be you but the majority voted for these very smart people. You are no match for their spins.
it's not their money ...why care ...
One definition of insanity involves repeating the same action and expecting a different result. Pretty much SOP for the US. It’s tiresome. ✌️
A system always produces the results it was engineered to produce. So this isn't insanity, it's a well-oiled machine performing as hoped for and expected.
@@tZydeco Corruption.
@@bertanelson8062 - the US has been conquered. Although nearly intractable problems, not by drugs and violence and immigration. But conquered by oligarchs using legislatures and regulators to make what we all recognize as corruption legal.
@@bertanelson8062 , Legalized Corruption with written statutes passed by so-called elected representatives of voters of the entire regime.
Sorry to be scientific here. The basics of quantum mechanics is statistic nature that the same experiment can have different outcomes with different probabilities. In real life, it is true also because there is never the same condition, when repeating the same action, that would lead to different result. Hey, there are baby boy and baby girl coming out from the same action.
Kevin, you are becoming must watch.... great insights
fully agree
For the record China manufactured and installed 350 gw of solar and wind in 2023 in China. About 10 times the us solar capacity or the equivalent of about 120 nuclear power plants. In ONW year.
China just approved 11 new nuclaer plants and the west is worried at the increase. In reality China plan for only 5 t0 10 % of its electricity demand to be generated by nuclear plants to stabilise the grid. This percentage will drop as new methods of storing renewable energy like central sodium batteries plants are developed and used. China policies are rational with inputs from scientists, economists, engineers, etc and not by an incompetent, silly, dictatorial White House
Can the US concede that another country and its culture can be better at something than the home team?
No. They will do as in the Olympics, claim their members as asthmatics and therefore elegible to take dope while at the same time accuse the competitor of taking dope and forcing drug tests on them at 5am to deprive them of sleep...
No, unfortunately, America's "identity" prevents such an admission. It's hard to admit being wrong and learning from competitors when there is a need to "always be right". As an American I can only shake my head. 😢
Bitter envy results in self immolation.
No way. That’s why Americans don’t usually learn Chinese at school but all Chinese are made to learn English all the way to Junior High.
@@MRT-co1sd yeah unfortunately English became a universal language of business. Chinese will replace it!
Lobbying is the best investment that any company can make. Years ago the Economist estimated returns on investment were 1785%. Even the legendary investor Nancy Pelosi cannot manage returns like that.
luckily China doesn't allow that.
You forget Nancy Pelosi's husband has magic stock picking abilities.
Wait until Trump be the next POTUS again in December '24.
The Polosi will be in trouble.😂😂
@@stevenliew2507
That will be a beautiful sight to behold.
Interesting, good comment
The problem is a lack of R&D. US companies have got to spend some serious money on R&D instead of share buybacks.
almost as if going public always bite people in the butt later…
Any more excuses ??? Face reality the u s is no longer a manufacturer ........ it cant compete
The cycle is complete !!!!
YES I 100 % AGREE WITH ONE OF THE COMMENTS..THE AMERICAN ECONOMIC SYSTEM IS BASED ON SERVICE AND FINANCIALIZATION.. THIS IS CALLED, MAKING PROFIT WITHOUT PRODUCING REAL VALUE. THIS IS WHY THE AMERICAN ECONOMY GOES FROM BOBBLES TO BOBBLES..THE BEST AND THE BRIGHTEST WORK IN THE FINANCE INDUSTRY.. THIS IS WHY WE HAVE A MASSIVE TRADE DEFECT BECAUSE WE DO NOT MAKE THINGS. WE IMPORT THE GOODS WE NEED. THE CHINESE ECONOMY IS BASED ON MANUFACTURING AND PRODUCING
REAL VALUE .THEY MAKE REAL GOODS THE WORLD NEEDS. THE BEST AND THE BRIGHTEST IN CHINA ARE IN THE GOVERNMENT OR PUBLIC SECTOR AND CHINA HAS TRADE SURPLUS OF AROUND 1 TRILLION DOLLARS ANNUALLY.. THE AMERICAN SYSTEM BENEFITS THE 20 % RICHEST AMERICAN AND THE 80% CAN GO TO HELL. NOTHING IS GOING TO CHANGE UNTIL WE BANCRUPT OURSELVES.
Chinese manufacturers improved and squeezed pennies every step of manufacturing process to turn out its products. then they sell its products at affordable price to gain market share. this is something its competitors have to deal with.
True
No country can beat Made-in-China products with their affordable pricing and high quality.
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I'm inspired.
Please spill some sugar about the biweekly stuff you mentioned
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Wow 😱I know her too
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Brave and Brilliant Kevin 👏
If all of this work created a solar industry that produced cheap energy in the USA would be worth it. But that will never happen, it is too late, they will be extremely expensive and never exportable.
China bought the bankrupt US Solyndra during Obama reign and started from there.
The fundamental issue here is that derisking from China is a political notion, not an economic requirement. American perceives the dependence to China gives China a big leverage, thus a concern of national security. To complicate the matter, going clean in US is also a political notion when a half of American actually don't believe in climate change. Two political notions would not create a sound economic policy. On the other hand, China considers going green is their economic future and most of Chinese believe its bright future both economically and environmentally. Therefore, while we might criticise US's policy-making process under strong influence of interest groups, the real issue is that American don't see their future with a long-term prospective. We just focus on quarterly finance reports and 4-year presidential election cycles.
4 years isn't long enough to achieve much except for filling ones bank account.
@@ZincFold2 years blaming the previous incumbent and 2 years poisoning the well for the next guy
@@ZincFold It was long enough for China to largely decouple from American IP.
@@ZweiZwolf indeed, IMO it's part and parcel of China's long term plans to increase self-sufficiency.
U.S policies just helped to accelerate it.
I hope one day they remove all battery and solar tarriffs, rebuild the grid, and create low cost renewable for all.
Would be good
Greed is the biggest problem. American CEOs can earn up to $42 million per year running a loss-making company. The goal of these CEOs is to see who can get rich quickly, rather than who can add more value to the company and society faster. No engineer or scientist working for these damn greedy bosses is willing to put in the extra effort to compete with competitors from other countries, especially those whose corporate culture is company first and individuals second. Among high-tech companies, the extra contribution of engineers can make the difference between life and death for the company. This is the result we see every day.
George Carlin "It's a big club, and you ain't in it!"
"all the politicians have already been long bought and paid for"
The club ain't big, just that the FEW people in it are big.
Inflation reduction act = more inflation
It’s more looting of the tax payers to fund the firms that hired lobbyists. It’s the same con re tax cuts for “job creators.”
Most US laws do the opposite of the title of the bill, and I'm not even kidding
@jayceh like the health care act called affordable care lool 😂😂😂
China less Money for War more money for Peace and Prosperity.
love your videos- it refreshing to hear the truth from someone with boots on the ground
Sounds like someone who likes to hear only what they want to hear.
Don't distort what he said "to hear the truth".
@@MrMingsyin 😀
Confucian economics > capitalism
You mean socialist economy
no. it's competitive capitalism > corrupt monopolistic oligarchies
@@lionel6283 You meant communist economics?
WTH is Confucian economics??
What a sense of humor you have, man! My hat is off
He is not taking anybodys phone call. Priceless 😅😅😅
dumped for Kamala and nobody even told him 😂
The on going reduction in the price of solar modules has significant economic ramifications as it will add downward pressure on the cost of energy.
except Corruptiflonia where "Republicans" pretend to be Democrat running the States.
10% for “the big guy”.
It reminds me of the scammers who made emperor's new clothes. They made a lot of money by not making the clothes; very smart, isn't it?
Smart ???? CUNNING THERE IS A DIFFERENCE ......
So wrong. China is not the problem. The problem is the Global North, and especially the US. Not being able to build anything in competition.
Global competition on industrial manufacturing is based on large scale and with an integrated supply chains of all the needed inputs are near & around inside China - a complete ecosystem bring down price per unit to very low level, for which no countries the world over can compete with the Chinese in term of cost.
Corruption is rife in the land of the free, so it seems. Only that they legalise it through donations.
THANKS FOR SHARING THE TRUTHS ABOUT SUCH A great country ......................
I hope the Hill and Redacted are watching.
Please email them his videos
Stock manipulation is a short term strategy. Your videos are very informative, thanks 🙏.
Great comment and true
Taxing imported solar panels does not solve the US employment problem, it just raises the prices of solar products sold in the US and further deters consumers from buying. Blaming other countries for their inflation problem is self soothing but not solving.
Kevin...............You provide the the BEST, HONEST & DETAILED FINANCIAL INFORMATION anywhere !!
Thanks Kevin
I listen to a lot of people but I do not HEAR a lot of people. I’m very glad to have come across this channel. I’m listening and hearing
So America doesn't get the manufacturing jobs and consumers have to pay higher prices for solar panels. Great work America!!
Always such a good source of food for thought and facts here on ICB. Look forward to what is next, as it seems to be a surprise almost each day due to the fact these conversations are not being conducted by the general population in america. Great work once again saving others the hard work!
“There lies a sleeping giant. Let him sleep! For when he wakes, he will shake the world.” This quote, attributed to Napoleon Bonaparte On CHINA 🇨🇳..
Thanks for exposing the systemic greed of the American system. Same problem with the chips manufacturing industry.
We are in trouble Kevin aren’t we!🥺
no. as an indian living in america. we are fine. it is just negative fear mongering newd
@@fannyalbi9040 compared to life back in Indian, everything, anything, is a bed of roses.
4 years ago it was 1$ a watt now it's down to .50 cents a watt in some places. for standard monocrystalline solar panels.
I appreciate your blunt, factual reports. No BS or gloss. Thank you.
US govt policies have a very very low success rate, because these are designed to benefit a few people.
cool an Iranian guy got citizenship and bought politicians 🤣
❤❤❤Sean, we are so sure of ourselves and our lobbyists that we don’t have to do any market research and technical forecasts prior to investing the billions. We seem to be totally dependent on our connections with the lawmakers and lobbyist to get rich quick. .. seems like corruption pays, big corruption pays Bigly .. except in this case it didn’t.😁🙏
Subsidising losers is a bad bad strategy!
A company called Burger that ain’t American???? That place needs some freedom, and democracy. Send in the NGOs
sound like the US need the Chinese to bail their ass in many industry
“Rome wasn’t built in a day.” These are industrial empires the US is trying to compete against. It’s faster to copy what works than to figure things out from scratch, but even so the US needs a five-year plan so government and industry can coordinate. Throwing money at the problem with no plan is going to fail.
Why is this a problem again?
Seems like the best competition has won.
Eat dirt.
$1.5M x3 for a $10B return.
Not bad for ROI : comes to 222,222%
Yes : that’s over two thousand times initial investment.
So forget about building factories or investing in R&D. Looks like Political donations are BY FAR THE MOST EFFICIENT BUSINESS INVESTMENT IN AMERICA !!
US tariffs are taxes on the American people. Whether they legally have the status of taxes or not, tariffs should require Congressional approval.
US just need to print more USD and give it to the maufacturers as incentives, subsidies and support by US gov to keep going but at the expense of the US tax payers.
We want to slow down the global warming. We need affordable EVs and solar products. 👌👌👌
Imagine if that type of corruption was prevalent in the Soviet Union or China instead of USA….
'Waiting for Biden to wake up, but he's not taking anybodies phone calls'? 😂😂😂😂😂😂 Good luck guys!
USA seems to be very sophisticated at raising and fiddling about with money .. not so much with following up in physical reality.
USA seems to exist in the world of the imagination, and somewhat detached from reality.
We need a Cost Reduction Act instead!
If you've ever had a solar panel you will know you can get an astounding amount of energy out of it's usable life. I had a small one whose only job was to charge a USB power bank. Almost always charged at the end of the day and provided more power than all of my electronics needed.
US does not spend on the real human core necessities to grow a country , Education , Health , Infrastructure ,Transport you need these things as a first priority.
The problem is the problem is known and no one can fix it, because it has so much inertia
THANK YOU y t for exposing the truth about the u s we now understand WHY.......
Why is Kevin telling people with PHDs to "Be good!"? Shouldn't that be something said to little kids?
Buy when expensive , sold when worthless
In the 90's we had several photovoltaic panel factories. One in Maryland boasted of using solar electricity to create its panels. Excitement was high as breakthroughs were happening in photo-electric technology using thin film & different production methods. However, even then the price was high compared to excellent quality panels made in Japan. Those were the ones I bought back then. We had inverters made by TRACE a small company in Washington State that were the best & most cost-effective in the industry. What happened to all that? Seems the big investors moved to Chinese production. USA factories closed, enthusiasm disappeared.
Exactly the same scheme is implemented in our country... With subsidy and domestic content required..
Always outstanding reports !
Democracy and corruption are tied together, hand and foot. It is how it is. 🎉
Good morning.
NO WORRIES black rock WILL SAVE us !.................
Amazing Analysis again Kevin! Only if the combined intellectual capacity of all US politicians is half of what you got it will become a much better place.
Inflation reduction act by conflating with the new expensive alternative in green energy created a statistical confusion to the effect that it shall result in inflation for the individuals gross expenditure not refuce inflation
It’s like Build Back Better(BBB), another US pipe dream 😂😂😂
The Jëws. Let's not turn around the problem.
Despite all the financial struggles I and my family faced, everything is finally falling into place! $47,000 weekly profit and riches I'll always praise the Lord
You're correct!! I make a lot of money without relying on the government.Investing in stocks and digital currencies is beneficial at this moment.
I'm 47 and have been looking for ways to besuccessful, please how??
Do you invest with a professional for broker?I'd appreciate it if you show me how to goals bout it
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She's definitely a top player in the trading world. Her ability to make successful trades is from really impressive.
As always, the best video of the day
They can still make a profit if they import the panels from China and just build the factory with nothing inside except for storage 👍
I recently sold some of my long-term position and currently sitting on about 250k, do you think Nvidia is a good buy right now or I have I missed out on a crucial buy period, any good stock recommendation on great performing stocks will be appreciated
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nice! once you hit a big milestone, the next comes easier.. How can i reach him if you don't mind me asking?
I like your sense of humour 😅
Joe not taking any calls anymore!
"There's class warfare, all right, but it's my class, the rich class, that's making war, and we're winning.” ~Warren Buffett
Putting tariffs on Chinese goods will not make America competitive again 😂
But none would pass multi side review .
That's meant by democracy!
Northvolt . Close in california , had plan to open in quebec . But everything slowed to a crawl in quebec . Not stopped just aka slowed .
When a child is spoiled with high daily expenses he would be in trouble when his income from mum and dad is reduced to half. This happens when the usa gives subsidies without a long term plan to sustain these businesses. China’s solar companies are resilient and adapt to the situation while the companies in the USA are not. All “protectionist” measures by the USA government are in vain because they do not have the capability or the plan to compete.
Sounds like first solar will be picking up some big overpriced government contracts.