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Green Energy Industry Collapsing in Spain as Government Support Runs Dry

June 23, 2013 by Paul Crowe

Spain's green energy industry is collapsing as government support runs out

Spain’s green energy industry is collapsing as government support runs out

Spain went all in on “green energy” because it was the future, it would provide jobs, and it would grow their economy, so they lavished the industry with subsidies and caps on electric rates, charging less for “renewable” electricity than the cost of producing it. It’s no wonder wind and solar companies were having a great time, not unlike what wind energy companies are doing here in the US. But, as Instapundit is fond of saying, “Something that can’t go on forever, won’t.”

Reality sets in

With massive deficits hammering their economy, Spain can no longer afford to prop up the green industry, and as you would expect, the businesses used to receiving government money, are suffering, badly.

State subsidies to clean energy producers have already fallen by between 12 and 40 percent on average in recent years, industry analysts say.

They could fall by another 10-20 percent in a new energy sector reform expected mid-July, according to the Spanish media.

In the wind turbine industry alone we have lost 20,000 jobs and in the solar energy sector it’s probably more.

Investors flee, individuals lose

Investors in the industry are running for the exits and funds invested in the companies are falling. Many individuals had been encouraged by the government to invest their money in the green sector and now they’re losing their savings and hopes of retirement income as payments for the electricity produced are drying up. (Farmers here in the US, promised annual payments long into the future may want to think about that.)

We’re on the same edge here

Of course, nothing like that could happen in the USA, with a $17 trillion debt, trillion dollar deficits and the sale of wind energy propped up by Production Tax Credits, … no, nothing like that could ever happen here.

Without massive support, wind energy isn’t viable

Wind energy isn’t a real business, it’s only growing because of government support. With tax credits for building and installing wind turbines, tax credits to offset the high price of the electricity produced, exclusions in Pennsylvania that prohibit taxing the turbines and increasing mandates to utilities to buy that electricity, it’s all an illusion. Without the special favors available to the wind industry, it would collapse just like it’s already collapsing in Spain.

Wind turbines are not green, they’re not reliable, they don’t replace any conventional power plants, they destroy the beauty of the landscape, they lower property values and they raise electric rates. There’s no upside.

We don’t want or need wind turbines. We don’t need wind developers with big plans telling us what to do, while collecting big government handouts for “green energy.” It isn’t wind, it’s hot air.

Filed Under: Wind Energy Tagged With: expensive electricity, government spending, taxpayers, wind energy retreat

What can you do?

  • Be informed! Read as many articles on this website as you have time for, so you can understand the issue. Do your own research. Check us out.
  • Tell your neighbors about the wind turbines, point them to this website so they can learn more.

Unfortunately

The less you know about wind energy,
the more you'll like it.

Why wind developers never understand …

It is difficult to get a man to understand something, when his salary depends upon his not understanding it.

~ Upton Sinclair

Don’t know – Don’t care

Is willful ignorance necessary
to promote wind energy?

No, but it helps.

Climate Change

Another thing I must point out is that you cannot prove a vague theory wrong. … Also, if the process of computing the consequences is indefinite, then with a little skill any experimental results can be made to look like the expected consequences.

~ Richard Feynman, 1964

It’s not on-demand, it’s no-demand

Wind energy is "no-demand" electricity. If the wind isn't blowing and you demand electricity, the answer is no.

Wind – expensive, inefficient, unreliable



December 1923 Popular Science cover dreaming about generating electricity from windmills, and though the dream never dies, the dream doesn't work, didn't then, doesn't now and without huge government giveaways of your money, no wind farms would get built anywhere. The government forces utilities to buy wind power so payments to landowners are simply wind welfare.


Wind energy runs on tax credits

"I will do anything that is basically covered by the law to reduce Berkshire's tax rate, for example, on wind energy, we get a tax credit if we build a lot of wind farms. That's the only reason to build them. They don't make sense without the tax credit."
~ Warren Buffett - from interview with Fortune magazine

Wind investments and high cost green energy

“I’m in the wind business … I’ve lost my ass in the business. ... Hey, we can get on everything green. We can get on everything renewable. Then the cost of power will go up ten times."
~ T. Boone Pickens - on Morning Joe on MSNBC

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