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The money is leaving the room

There is still billions invested in research, billions circling in carbon markets, and billions tossed as government subsidies. But there are a few less billion available now than there was before Christmas. Reality bites and Green Energy is left to face the music.

Austerity pulling plug on Europe’s green subsidies

by ERIC REGULY , Globe and Mail

The Spanish and Germans are doing it. So are the French. The British might have to do it. Austerity-whacked Europe is rolling back subsidies for renewable energy as economic sanity makes a tentative comeback. Green energy is becoming unaffordable and may cost as many jobs as it creates. But the real victims are the investors who bought into the dream of endless, clean energy financed by the taxpayer. They forgot that governments often change their minds.

When the Spanish economy went into the toilet in 2008 and 2009, austerity measures were put into place. At first, it appeared the solar industry would be spared the worst of the cutbacks. That changed a bit, but only a bit, in November, when a royal decree reduced tariffs by up to 45 per cent on new PV plants; existing plants would remain untouched. Then – whammo! […]

February 7th, 2011 | Tags: , | Category: Global Warming | Print This Post Print This Post | |

Solar Panel subsidies: A billion dollars to provide cheap electricity to wealthy households

A billion dollars that could have been used for housing, schools, hospitals and health programs was drawn into solar subsidies to provide electricity that could have been produced in far cheaper ways.

There is no sunnier first world country than Australia. If solar was going to be a raging success anywhere, surely it would be in the land of the Sunburnt Country. Instead the Australian government has poured in more than a billion dollars to install solar panels on the roof tops of private homes. It’s a text book case of misdirected spending.

In the end the government drew money from the population-at-large to help Chinese solar panel manufacturers, and to provide “cheap” electricity to 107,000 households in mostly medium-high wealth areas. It reduced Australia’s emissions by a piddling 0.015 per cent, at an exorbitant carbon price of $300/ton.

Solar power is clearly not viable yet. So that billion dollars could have been spent on research to make solar power economic (in which case no subsidies would be needed). It could have made us world leaders with a product to patent and sell (or it might not). Instead governments of both major parties chose to pour a billion […]

December 1st, 2010 | Tags: , , | Category: Energy, Global Warming | Print This Post Print This Post | |

Australia can meet it’s 2020 targets with just 35 nuclear power plants or 8000 solar ones!

Roger Pielke, Jr. has looked closely at Australia’s ETS targets and helpfully put some numbers into the hypotheticals.

With all their subsidies, goodwill and fervent wishes, solar, wind, and geothermal produce just 3% of our energy needs. Fossil fuels produce a whopper 94%. And “energy” on these grand continental scales is measured in quadrillion BTUs which is known as “one quad”. Australians use about 5 quads / year, and to make that we pump out about 400 Mt of carbon dioxide per year. (These kind of big-picture numbers are often hard to find, so I wanted to capture that to keep things in perspective.)

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Population growth is a big factor in Australia 8 out of 10 based on 5 ratings […]

September 9th, 2010 | Tags: , , , , , | Category: Australia, Energy, Global Warming, Nuclear Power, Renewable, Renewables, Solar Power, Wind Power | Print This Post Print This Post | |
 
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