Germany’s leading daily in terms of circulation Bild recently featured an op-ed piece that harshly criticizes Germany’s Energiewende (transisition to renewable energies).
Clearly the Energiewende is not even coming close to living up to what is was originally billed to deliver. Despite adding more than 70 gigawatts of wind and solar capacity that will cost consumers some $200 billion, German CO2 emissions have not decreased to speak of. Coal-fired power has actually risen.
In summary German electricity prices have skyrocketed and poor consumers are being hit hard. Energy-intensive industries are off-shoring operations – and jobs!
A number of experts are calling the Energiewende the greatest wealth redistribution from poor to rich scheme in Germany’s history as wealthy property owners cash in with subsidized zero-risk wind and solar installations. The poor consumers are forced to cough up the money.
“Enough with green power!”
So it’s little wonder that major German media outlets are beginning to express doubts. Bild features an opinion piece titled: “Enough with green power!”
The popular German daily calls the promises of cheap power from wind and sun “a fairy tale”. It writes:
Indeed the truth is: The price of power continues to climb. Just in the past five years the power price exploded 29 percent.
The reason is simple: In the energy market, central planning rules and not the free market.”
Today there is so much installed capacity, Bild writes, that “on days with lots of sunshine and wind, the green power has to be sold to foreign countries” – even if they don’t need it. When that happens the highly subsidized power gets sold at negative prices. The result? Huge losses for power companies. This is how disfigured the electric power market has become.
In summary Bild concludes that the price of power is much more expensive than it needs to be and that it is a product that needs to remain affordable. Germany’s energy policy is on the wrong path.
Unfortunately there are no signs things will change anytime soon in Germany, which now has the world’s second highest electricity prices in the world after Denmark.