Relying on a policy that’s all (green) thumbs

t was interesting while it lasted. But it looks like the “green revolution” has entered the long slide into “What was all that about?”

In January, the Spanish government removed absurdly lavish subsidies for its renewable energy industry, and the renewable energy industry all but imploded. You could say it was never a renewable energy industry at all. It was a government subsidy industry where in exchange for creating conscience-soothing but otherwise inefficient windmills and solar panels, the government gave the makers piles of cash consumers never would.

“They destroyed the Spanish market overnight with the moratorium (on subsidies),” European Wind Energy Association CEO Christian Kjaer told Bloomberg News… Read more

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