State Supreme Court Unamiously Spikes Elon Musk’s Solar Plans

elon_muskNevada’s Supreme Court struck down a ballot measure Thursday to change the state’s constitution to give lucrative subsidies to SolarCity, a rooftop solar company chaired by billionaire Elon Musk, and its customers.

The seven-member court bluntly rejected a ballot measure, backed by SolarCity, as fundamentally flawed. The court unanimously found that the petition used to get signatures for the referendum provided was “inaccurate,” ”misleading” and “argumentative.” This ruling removes the measure from ballots in November.

The proposed amendment stated that Nevada’s electricity markets would be opened to outside competition to minimize regulatory burdens, but does not specify exactly how so. The amendment had support from Nevada Democratic Sen. Harry Reid.

Musk and liberal billionaire Warren Buffett, the third richest man in the world with an estimated net worth of 60.8 billion, have been locked in an escalating conflict over solar subsidies since December.

If the ballot initiative had been successful, Musk would effectively reverse Buffett’s major December victory, when Nevada’s Public Utilities Commission (PUC) imposed rules that effectively ended net-metering. Net metering had been forcing electrical utilities, owned by Buffet, to buy the energy produced by rooftop solar panels, owned by Musk, at high rates.

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    Amber

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    When did it become the accepted norm that tax payers were expected to finance uneconomic businesses with grants, loan guarantees and rip off utility rates .
    How many $Billions of tax payer dollars have been wasted on solar panel flame outs and other non renewable companies .
    Who couldn’t make a business out of anything with billions in corporate welfare charity ? The cash burn in companies like Solar City and SunEdison is so high
    even grants , loan guarantees and heavily subsidized utility payments can’t save them . You can bet some top dogs never missed a payday or buyout as they cleaned out the cash register’ s for years till surprise surprise bankruptcy .
    Meanwhile after not moving the earth’s temperature one bit the junk they were selling is land fill .
    Adding $$Trillions of dollars in non -repayable debt is a much bigger issue than the benefit of some ongoing warming of the planet.
    Why would China and Japan keep buying USA green wallpaper ?

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