Don’t believe the hype from the increasingly desperate renewables industry: solar power has crashed and burned.
Goldman Sachs is predicting a 24 percent drop in solar installations this year. By any measure, that constitutes a major industry slump.
According to Bloomberg:
The pace of global installations will contract by 24 percent in 2018, Goldman analysts led by Brian Lee said in a research note late Wednesday. That’s far more dire than the 3 percent decline forecast by Bloomberg NEF in the bleakest of three scenarios outlined in a report earlier this month. Credit Suisse Group AG is forecasting a 17 percent contraction.
The anticipated slowdown would mark the first time the solar market has shrunk. It comes after China announced in late May it was curbing utility-scale development in the world’s biggest market, pulling the plug on about 20 gigawatts of projects. That will reduce global installations to 75 gigawatts, down from 99 gigawatts in 2017, Lee said in an email.
“Lowering our coverage view to cautious, we believe oversupply is set to continue in the near to-medium term as demand from the largest solar markets remains tepid,” Lee wrote in the research note.
As I have written before the renewables industry is a gigantic chimera – a huge bubble just waiting to burst the moment that the subsidies dry up.
In the Obama-era, it did just fine – as an industry does when there’s a green ideologue in the Oval Office happy to reward his campaign benefactors by bunging $500 million of taxpayers money into a doomed enterprise like Solyndra.
That era is now over. There’s a new guy in the White House setting the energy and environmental agenda. He is not a fan of green boondoggles.
Short solar; short wind. You might just make enough to cover your energy bills.
Read more at Breitbart
Renewibles is just another big time rip off just like with this idiotic campaign against straws its based upon lies and junk science most all these Eco-Wackos do this for the Media attention from the New York Pravda(Times)and the Fake News Network (CNN)and the useful idiots(Enviromental Actvists)marching around like mindless zombies
Up in flames?
There’s a wildfire burning out of control east of Georgian Bay, Ontario. Extremely dry conditions. It is alleged that the fire was started by construction at a new wind-farm. Stay tuned.
Solar power may be down as a result of China’s decision, but unfortunately they are far from out. What China did simply created an adjustment. It is true that solar power is “a huge bubble just waiting to burst the moment that the subsidies dry up.” Unfortunately with states like California and New York, the subsidies are not going to end soon. The voters are going to have to get smart enough to kick those controlled by the environmentalists out of office, and that won’t happen until they get tired of paying increasingly high prices for power this is becoming less reliable.