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FBN’s Gerri Willis on the rising use of solar panels, most of which are made in China.
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A new report out today from the solar industry -- a surge in the use solar panels.
US solar installation more than double.
In the second quarter of this year in the report said it's up -- 116%.
Gay.
And -- US now has 5700.
Megawatts of solar capacity.
Enough to power more than 940000.
Households.
It's great right.
But that is still less than 1% of all the homes in the country and and fortunately almost all of those solar panels are made overseas.
It's mainly in China and that's been the trend for some time now China is making more we are making less.
In fact China overtook the US it the United States some time ago -- supplies nearly half the world's solar panels up from 15.
In 2008.
The US now makes just 3% that's down seven from 7% in 2008 the trend my friends is not our friend.
Still the Obama administration isn't shying away from throwing taxpayer dollars and -- solar projects.
Despite this also -- disaster where half a billion dollars in taxpayer money went right down the drain remember that.
Just last month the White House fast -- -- number of solar projects in California Arizona and Nevada.
Many of the these plants are so called utility scale projects -- solar farms designed to create power for a few 100000 homes are more.
And this is where most of the businesses today's report said nearly half the growth.
Was at large commercial or utility scale projects just 16% went to private homes or small businesses.
In fact the vast majority of the jobs and solar in this country.
They're not in manufacturing.
There in installation.
And the rate of growth is going to slow dramatically in the coming years -- 71% this year to 21%.
In 2013.
And here's the reason.
Government money is drying up and many states are now reaching government mandates on the amount of renewable energy they must -- So where does that leave the shiny new plans that you helped build and the -- -- to be built.
This is -- government comes in again take Nevada where as I said the feds are now fast tracking projects and where a lot of your money has already gone -- solar.
Listen to this senator Harry Reid is pressuring his State's main utility called NV energy.
To buy the electricity from a solar plant that he's lobbying for now the plant when the biggest ever is slated to be built by.
A Chinese company and according to Center for Responsive Politics which tracks political contribution.
The Chinese companies executives are top contributors to senator Reid's political action committee but up -- The Chinese also hired the law firm where some Reid's son Rory works.
Unbelievable right -- reference -- -- -- crony capitalism died with the lender at.
I can assure you the sun rises and sets every day over the desert plains of Nevada crony capitalism.
In the solar business.
Alive and well.
