|Solar energy – not the answer|
One of the biggest national investors in green energy, Germany, is coming to the realization that green energy is the path to bankruptcy. This is nothing short of blasphemy in the green world to even make a partial admission that solar power is not the panacea it was promised to be.
Germany invested gargantuan amounts of money in green energy, doling out more than 130 billion in subsidies to install solar systems and spends an additional 10 billion per year subsidizing existing solar installations.
Yet after all of this capital expenditure, Germany has little to show in terms of reducing green house gasses and helping the country’s power needs. Despite massive investment, solar power accounts for approximately three percent of Germany’s total energy…When the sun shines! To add insult to injury, Germans also pay the second highest price for electricity in the developed world, due mainly to the fact that they are heavily subsidizing green energy by adding the cost to everyone’s utility bills.
According to Der Spiegel, members of Chancellor Merkel’s staff are describing the policy as a massive money pit. Philipp Rösler, Germany’s minister of economics and technology, has called the spiraling solar subsidies a “threat to the economy.”
Germany will be cutting subsidies to solar sooner than planned, and to phase out support over the next five years.
In spite of this ominous sign that solar may be a technology that will not reach its dreamed of potential, President Obama has America on a headlong rush down the same path of energy broken dreams that Germany has found itself on.