Once ballyhooed as a cheap source of energy (“The sun doesn’t send an electric bill”), Germany’s attempted transition to wind and solar energy is rapidly heading towards a full-blown central planning folly of historic dimensions.
The German electricity consumer advocacy group NAEB projects that Germany’s electric power rates will continue to soar, possibly reaching an industry back-breaking 45 euro cents per kilowatt-hour by 2020, and even higher over the years that follow.
Currently German power costs about 30 euro-cents per kilowatt-hour, and so are among the highest worldwide. The price is projected to soar another 50% rise to 45 cents by 2020. That would make German power 4 times more expensive than US power, and more than double that of France. This poses a real threat to German economic competitiveness.