John
Verum Serum
2/20/2012
Yesterday we had a story about a move by the UK away from their socialized National Health Service to a model more open to free market competition (though the left in Britain is fighting back hard on that one). Today we learn that Germany is getting ready to write off it’s huge investment in solar energy (h/t Hot Air). It’s almost as if Europe is warning us we’re on the wrong track:
According to Der Spiegel, even members of Chancellor Angela Merkel’s staff are now 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.”…
despite the massive investment, solar power accounts for only about 0.3 percent of Germany’s total energy. This is one of the key reasons why Germans now pay the second-highest price for electricity in the developed world (exceeded only by Denmark, which aims to be the “world wind-energy champion”). Germans pay three times more than their American counterparts…
The article continues at Verum Serum.
