Germany, Spain Set To Pull The Plug On Green Energy

Posting from Tyler Durden in Zerohedge.com, 02/14/2013.
Over ten years ago, when Europe was a bright and shining example of Spain Gemasolar solar towerexperimental monetarist “brilliance”, and when the money was flowing, the continent decided to do the ethical thing and actively promote the pursuit and development of renewable energy through countless government subsidies. As a result, Germany and Spain became the undisputed leaders in the race for a green future, and both created similar laws to encourage the development of renewable energy. There were two problems: i) green energy, while noble in theory, is about the worst idea possible when it comes to profitability and capital self-sustainability and constantly needs governmental subsidies, and ii) it was the end consumers who would pay for the government’s generosity, in the form of a surcharge on electric bills.

* Click here for full text – http://www.zerohedge.com/news/2013-02-14/germany-spain-set-pull-plug-green-energy

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