Europe’s Green Mega-Flop

turbinesHundreds of wind turbines in the Netherlands are operating at a loss and are in danger of being demolished. The main cause is the very low energy prices, which mean that the maintaining the turbines cost more than what the generated energy bring in, the Financieele Dagblad reports based on own research. Subsidies for generating wind energy are in many cases no longer cost-effective. Smaller, older windmills in particular are running at a loss, but even newer mills are struggling to be profitable with insufficient subsidies. –Janene Pieters, NL Times, 15 April 2016

Due to the low energy prices wind turbines are making losses on a large scale. The maintenance costs are higher than the benefits of the energy generated. Windmills are now being demolished according to a survey by Financieele Dagblad. According to estimates Association of Private Wind Turbine Operators (Pawex) ‘potentially 500 to 750 megawatts’ are making a loss or are at risk of doing so. That is a quarter of the power generated by onshore wind energy in the Netherlands. –Carel Grol, Financieele Dagblad, 13 April 2016

The amount of household solar power capacity installed in the past two months has plummeted by three quarters following the government’s cuts to subsidies, according to new figures. The size of the drop-off will dismay green campaigners who want take up on clean energy sources to accelerate. The cuts were announced just days after energy secretary Amber Rudd helped agree the historic Paris climate deal, and have bankrupted several solar companies. The government says the changes were necessary to protect bill payers, as the solar incentives are levied on household energy bills. — Adam Vaughan, The Guardian, 8 April 2016

A British government scheme costing energy firms 3 billion pounds to help people save money on their bills and cut greenhouse gas emissions has not provided value for money, a parliamentary watchdog said. —Reuters, 13 April 2016

Germany’s 16-year-old Energiewende, or energy transformation, already has wrecked the country’s energy market in its quest to wean the economy off fossil fuels and nuclear power. All of this—the job losses, the unreliable power supply, the astonishing amounts of spending that could top €1 trillion over the coming decades, and the rising coal emissions to boot—amounts to one of the more monumental blunders of modern governance. Berlin likes to think of itself as a green-energy example to the rest of the world. It sure is. –Editorial, The Wall Street Journal, 14 April 2016

Indian lenders are becoming increasingly reluctant to finance solar-power projects by foreign companies as bankruptcy looms for SunEdison Inc. in the US, creditors familiar with the matter said. That’s a threat to Prime Minister Narendra Modi’s goal of a roughly $100 billion expansion of solar power, aided by foreign investment, a target he set for energy security and to curb fossil-fuel pollution. Indian bankers are sensitive to heightened risk as they grapple with the nation’s worst bad-debt pile up in more than a decade after infrastructure investments soured. –Anindya Upadhyay and Anto Antony, Live Mint, 13 April 2016

Solar cannot survive without government subsidies. Take away the punch bowl and the sector collapses. Solar cannot compete with fossil fuels. It is not clean, nor is it renewable. –Will Ebiefung, Seeking Alpha, 3 April 2016

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  • Avatar

    Amber

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    Who is speaking for the birds and bat massacred by wind mills . Who is speaking for the tens of thousands who are dying as a result of fuel poverty resulting from idiotic government energy and environment policies .
    Who is speaking for the people who are going to be on the hook their entire lives for massive debts accumulated by governments for misguided ,foolish and failed climate policies ?

    A class action lawsuit against the perpetrators of this fraud is long over due .

  • Avatar

    fromdownunder

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    I think the huge mistake is people treating green energy schemes as an investment. As a result many schemes only survive as long as the subsidies keep coming. Subsidies consisting of other peoples money.

    Instead green energy should be treated as charitable cause. As a charitable cause you would not expect any returns from any money dumped into it. And in particular, the people who wish to support the cause, should pay it out using their own money.

    This way energy schemes will more or less be financially sound. Sure they may be loosing money but as long as they can get people to commit to monthly donations they will be able to produce as much clean energy as permitted by their budget.

  • Avatar

    GR82DRV

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    [quote name=”fromdownunder”]I think the huge mistake is people treating green energy schemes as an investment. As a result many schemes only survive as long as the subsidies keep coming. Subsidies consisting of other peoples money.

    Instead green energy should be treated as charitable cause. As a charitable cause you would not expect any returns from any money dumped into it. And in particular, the people who wish to support the cause, should pay it out using their own money.

    This way energy schemes will more or less be financially sound. Sure they may be loosing money but as long as they can get people to commit to monthly donations they will be able to produce as much clean energy as permitted by their budget.[/quote]
    Well said DownUnder! Liberals want to take credit for offering the shirt off of someone else’s back. Time to let them live or die on their own merits. Enough with all the public subsidies for their failed political schemes.

  • Avatar

    Amber

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    There is a simple fix ban all subsidies to business . Half of Washington would clear out but at least the cancer that is embedded in Washington might have a chance to be cured . $ Billionaire hedge fund gamblers are the last thing the country needs buying and pulling politicians strings .
    It doesn’t take a genius to bet on known outcomes . Did some one say NOAA “adjustments “? Any short sellers sinking Sun Edison or did they screw tax payers and share holders on just good ol mismanagement ? Throw in Solyndra and
    what have you got ? The government borrows money it doesn’t have and gives it to two major flame out companies .
    Debt financing for generations of tax payers and some good ol boy insiders got some sweet pay days . Welcome to America . No wonder it’s broke .

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