Germany’s rush into green energies is slowly and grudgingly being acknowledged by once steadfast proponents as a failure. Over time, even the most bitter of realities have to be accepted.
First let’s note that the Tagesspiegel is based in Berlin, and is a center-left publication, and so what we have here is a grudging admission from a proponent that the pet green energy project is not what many would like us to believe it is.
Recently the top brass of Solarworld announced it would declare insolvency, and has since become “a case where we can learn a lot,” so says Tagesspiegel’s Ursula Weidenfeld.
She writes: “It tells us the story of megalomania, ignorance, cockiness and blindness of the future” and that it is an example of “the state interfering with competition – and distorting it” to the point where “companies are hampered and the power of innovation is weakened”
Weidenfeld compares the German government’s forays into green energy to the refugee crisis, where good intentions ended up with disastrous results. On companies feeding at the subsidy trough, she writes:
Ultimately, they wind up resorting to tricks, then they disappear.”
Weidenfeld describes a Germany that was hell-bent on showing the world how things are supposed to get done, but in the end wound up as an embarrassing failure. Weidenfeld concludes on the massive solar subsidies:
The more that politics tries to shape entire [industry] branches, the faster they come to an end. It’s for sure: the German initiatives are exemplary for the world. Here we can learn what you don’t do.”
Trump may not be able to stop the mass green energy subsidy scheme Paris is demanding, but the natural laws of economics certainly will. The longer the scheme is propped up, the bigger the crash will be.