Germany Says Solar Energy is Path to Bankruptcy, Yet Obama Doubles US Down On It

Mar 1, 2012 by Ed Farnan

Germany Says Solar Energy is Path to Bankruptcy, Yet Obama Doubles US Down On It

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Original Post Monday, February 20, 2012

by Ed Farnan

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One of the biggest national investors in green energy, Germany, is coming to the  realization that green energy is the path to bankruptcy. This is nothing short  of blasphemy in the green world to even make a partial admission that solar  power is not the panacea it was promised to be.

Germany invested  gargantuan amounts of money in green energy, doling out more than 130 billion in  subsidies to install solar systems and spends an additional 10 billion per year  subsidizing existing solar installations.

Yet after all of this capital  expenditure, Germany has little to show in terms of reducing green house gasses  and helping the country’s power needs. Despite massive investment, solar power  accounts for approximately three percent of Germany’s total energy… when the  sun shines!  To add insult to injury, Germans also pay the second highest  price for electricity in the developed world, due mainly to the fact that they  are heavily subsidizing green energy by adding the cost to everyone’s utility  bills.

According to Der Spiegel, members of Chancellor Merkel’s staff are  describing the policy as a massive money pit. Philipp Rösler, Germany’s minister  of economics and technology, has called the spiraling solar subsidies a “threat  to the economy.”

Germany will be cutting subsidies to solar sooner than  planned, and to phase out support over the next five years.
In spite  of  this ominous sign that solar may be a technology that will not reach  its dreamed of potential, President Obama has America on a headlong rush down the same  path of energy broken dreams that Germany has found itself on.

The green energy price tag for America under the Obama administration is  reaching into the billions. When you consider the energy policies that choke off  America from its natural resources and the subsidies to green energy by adding  the price tag onto consumers utility bills, we are talking more than billions,  possibly trillions, in outright costs and damage to our economy.

Does  Obama and his team of experts in the White House think that if we just throw enough taxpayer  money at green energy, it will magically become economically feasible? That the  rules of physics and economics will somehow be swept aside?

President  Obama should examine very closely what lead to Germany’s decision to basically  pull the plug on solar. President Obama has had plenty of red warning flags  along this path he has us on, some of these flags have names like Solyndra  and Evergreen Solar.

Another red flag is the cost of gasoline to  Americans; in some areas it is hitting over 5.00 per US gallon. Due to Obama  energy policies and tensions in the middle east, gas is getting very expensive.  Expensive fuel will increase the price of everything Americans consume and take  money out of their pockets at the exact time you want to encourage consumer  spending. This could tip the American economy back into the recession they tell  us we are no longer in.

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