No matter what data one presents to hardline proponents of solar energy, they choose to bury their heads in the sand and hope it isn’t so. Today Spiegel presents data that are so striking that they could even jolt those caught deepest in fantasy back to reality.
Online Spiegel has an article today dubbed: Market Losers: These German Companies Destroyed The Most Capital. It lists the top capital destroyers of 2014. I had a feeling I’d find find maybe one or two solar companies, but it turns out that it’s actually far worse than I thought. Four of the top 12 are solar companies!
The number one German capital destroyer of 2014, Spiegel writes, was Solarworld. “The company lost almost 82 percent of its value. Since 2010 the share price has gone in the cellar, falling 99.5 percent, …”
Not only Solarwold made it on the list of the Top German Destroyers Of Capital, but so did 3 other solar technology companies. Brandenburg-based Aleo Solar took 6th place, losing 57 percent of its value in 2014.
The solar technology bloodbath was extended by 1999-founded Phoenix Solar, which lost 96% of its value last year, Spiegel writes. The company took 9th place.
Solar technology company SMA took 12th place on the list of the top German capital destroyers. No industry comes close to destroying the amount of capital that the solar industry wiped out last year. The big losers are from the solar industry, hands down.
The capital destruction that is Germany’s highly ballyhooed “Energiewende” (transition to renewable energy) does not end in the solar sector, but extends to the conventional power companies, who are reeling from the impacts of the subsidized renewable energies. Energy giants RWE and E.on come in at 35th and 43rd place respectively.
One senses that Germany’s entire energy industry is breaking up and falling to pieces.
It is truly mind-boggling how anyone can say solar energies are the future – unless you’re an insolvency administrator, that is.