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May 30 2012

Green Energy Model Spain Drops Subsidies

Not being the first to go over the cliff into moonbattery-induced ruin affords us the advantage of benefiting from the expensive lessons of others:

Spanish renewable-energy companies that once got Europe’s biggest subsidies are deserting the nation after the government shut off aid, pushing project developers and equipment-makers to work abroad or perish.

From wind-turbine maker Gamesa Corp. Tecnologica SA (GAM) to solar park developer T-Solar Global SA, companies are locked out of their home market for new business. These are the same suppliers that spearheaded more than $69 billion of wind and solar projects since 2004 that today supply more than 50 percent of Spain’s power demand on the most breezy and sunny days.

Spain has figured out that even 50% green energy is economically unsustainable.

Saddled with a budget deficit more than twice the European Union limit and a ballooning gap between income and costs in its power system, Spain halted subsidies for new renewable-energy projects in January. The surprise move by Prime Minister Mariano Rajoy one month after taking office helped pierce investor confidence in stable aid for clean energy across Europe.

“They destroyed the Spanish market overnight with the moratorium,” European Wind Energy Association Chief Executive Officer Christian Kjaer said in an interview. “The wider implication of this is that if Spanish politicians can do that, probably most European politicians can do that.”

The smarter ones will do it before they are staring bankruptcy in the face like Spain.

Meanwhile, the last I heard Obama wants to follow the Spanish model. If he means us well, he will skip to the part where the whole green energy farce is abandoned as crony capitalist boondoggling draped in unaffordable PC posturing.

Money up in smoke.

On a tip from Jeremy.

9 Responses to “Green Energy Model Spain Drops Subsidies”

  1. jazbo says:

    The Spanish govt would pay the wind/solar companies 5X the going rate of properly [coal, oil, nuke] generated electricity. Then they would turn around and sell it to the public “cheap”. And that didn’t work out somehow for the government?

    Why are enviro-marxists and socialists so bad at math?

  2. jazbo says:

    Oh, and all that debt bought them expensive energy only on “breezy and sunny days”. Too funny.

    Reality bites.

  3. klae says:

    Why are enviro-marxists and socialists so bad at math?

    Because they’re as disconnected from reality as many “physicists.” Instead of conducting tests and recording observations, all one needs is computer models. If reality doesn’t match up, then it’s not even conceivable that the model might be wrong.

  4. whotothewhat says:

    The Eco Marxist know full well that solar and wind are useless boondoggles only used to suck huge amounts of money out of the pockets of governments and taxpayers who are also rate payers for high energy costs. The other reason why Eco Marxist love this so called green energy, is when fully implemented by replacing true energy producing sources like goal and nuclear power and hydro electric it will kill millions world wide by people either freezing in the winter or sweltering in the summer. And by controlling fuel they can also control the flow of food and other materials necessary to have any kind of life other then tolling in some hot dusty field rooting for potatoes to feed ones family with. It comes down to the elites wanting to force the world back to a medieval serfdom.

  5. Chris says:

    This can only mean one thing. Time for obama to ‘double down’ on his commitment to green bullshit.

  6. gerry says:

    Screw that scam, Tyler takes a 1,244 HP…

  7. Fiberal says:

    As Spain, Finland (yeah, its dark up there) and T.Boone Pickens (and others) found out the hard way, unless you’re a photosynthesizing plant, energy doesn’t fall out of the sky.



    You are correct. There’s a concept called “energy density” that seems to be a bit too practical for governments and old coots to comprehend.

    Sun or wind— you can’t concentrate it, you can’t store it—you can only make other people pay for it.

  8. NHDan says:

    “Why are enviro-marxists and socialists so bad at math?”

    Because if you really think you are saving humanity you are special and regular old math doesn’t apply. Their strategies are so different from all of the failed programs that they will not fail.

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