As Americans learn about the amount of money the Obama Administration is spending to subsidize solar energy, there is an interesting report posted at The Association of Mature American Citizens website
The article reports:
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.
The article explains that Germany will be phasing out subsidies for solar energy over the next five years.
The article further reports:
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.”
We need to learn from Germany’s experience.