Seventeen years ago, Spain’s socialist government decided to inject subsidies into renewable energy. As a result, thousands of Spanish families massively invested in photovoltaic energy. But, as you’ll see in our report, the dream rapidly turned into a nightmare.
HT/Ben C
What, they couldn’t afford to light them up at night any more?
The lack of business sense is stunning. Virtue signalling is not a business plan.
Of course the bankrupt government cannot pay for useless energy.
Reality takes its toll.
Never make a short-term investment based on a long-term government promise.
A lot more like gambling than investing.
What’s the matter here?
I tried to get that strange France24 youtube stuff
https://www.youtube.com/channel/UCQfwfsi5VrQ8yKZ-UWmAEFg
Nothing to see there.
But on dozens of web sites having gullibly reposted this misinformation, you can see it.
Since I recall that the Spanish right-wing government under Mariano Rajoy had retroactively, and hence illegally retracted the subsidies on investments in photovoltaic plants previously offered by the former socialist government and used by ten thousands of little Spanish investors, I translated the text in Charles Rotter’s head post in Spanish, and found indeed lots of hints on the fact that France24 did nothing else than to woefully misinform.
Here is the real source of the info (2016-2018):
https://www.elespanol.com/reportajes/20180303/familias-arruinadas-timo-solares-suicidios-tumores-depresiones/287221972_0.html
https://ballenablanca.es/desahuciados-solares/
To say the least: this is simply disgusting.
Yes, governments offering taxpayer funds to subsidize people who want to distort the rational operations of open markets is simply disgusting.
Crony capitalism, I believe it is sometimes called.
But what can be created by one politician’s whim can be destroyed by another politician’s whim.
That’s the risk investors in artificially- created markets take.
Having government take money from people who work and give it to people who will vote for the government has nothing to do with capitalism. That’s pure socialism.
Since Solar is so fabulously efficient, why does need subsidies at all? Everyone should be falling over one another to convert to it, no?
Misinformation: Anything a socialist disagrees with.
Right wing: Not a socialist or a communist
Illegal: Any action by government that a socialist disagrees with.
God forbid a subsidy that a socialist approves of, ever by withdrawn.
But it’s a green bankruptcy.
My Electric Utility has been pushing Home rooftop Solar panels. They send a flyer with every Bill, advertise on TV, etc. They will buy any excess generated each hour. They publish a “Calculator” web page. Here you can put in the average of your electric bills, or Average KWH used each month. I entered all of my info the web page and after including the 10% needed as an up front payment , my monthly “electric” Payments (loan and payments for “service charge, taxes, etc, went from a present $180 per month “equal payment” to $286 per month for ten years, subject to rate changes. That included their estimate of Maintenance/Repairs. Did not include Increased property taxes or increased homeowners insurance.
Roof-top solar here is headed in a similar direction.
Renewable sunshine. Disposable Green tech with forward-looking capital costs.
I see LG are getting out of the solar panel business-
LG to Close Solar Panel Business | LG NEWSROOM
They were making top end panels with 25yr guarantees but most want a 10 year horizon and cheap.
For a long time, the half-life pf PV manufacturers has averaged about 10 years.
Same in the UK, Cameron scrapped the feed in tariff. Should have invested more in pumped water.
Morons.
The report said that he is dealing with the Socialist party. Well there’s your problem, he is dealing with socialists!
It’s all very well to go gung ho with unreliable generation but that means you need reliable storage-
State Farm Files $1.27 Million Claim Against Tesla For House Fire (insideevs.com)
The winds of change are blowing through the lithium battery sector for all sorts of reasons-
Tesla’s reverse on battery cells signals shift for electric vehicles – ACAPMAg
The problem of how to make large incendiary batteries safe and reliable without their threat to property and life isn’t going away anytime soon-
The Largest Lithium-Ion Battery in the World Keeps Melting – DNyuz
Houston we have a problem!
So more “range issues” for worse-than-useless BEVs. LOL.
And does anyone with a functioning brain think the same cost and supply issues, supply chain noise aside, were not going to arise from trying to shove BEVs down everyone’s throats anyway?!