Yesterday President Obama annouced that he wants to invest $3.4 billion or our money through the Recovery Act to fund energy-grid modernization in the United States and reduce energy costs. According to Fox News:

The President visited DeSoto Next Generation Solar Energy center, billed as the largest solar photovoltaic center in the country. The company’s 90,500 solar panels are able to generate about 42,000 megawatt hours each year, but the project cost $150 million to build and only provides power to 3000 homes, prompting critics to say the administration doesn’t have an overall energy strategy.

That’s $50,000 per home. So much for cost cutting. The whole story is here.