Advocates of green energy often site Germany and Spain as examples of what America should be doing. Many environmentalist oppose clean nuclear energy and clean natural gas, because they are convinced that we can get all the energy we need from solar panels and wind mills despite the fact that the sun doesn't always shine and the wind doesn't always blow. The fact is that energy from wind and solar is just not dependable and is very, very expensive. In Germany, rising energy prices are causing companies to flee and move to countries with more affordable energy. Spain and Germany are reversing course on green energy.
By William Boston and James Angelos in Berlin and Ilan Brat in Madrid
More than a decade ago, Germany and Spain created similar laws to aggressively promote the adoption of renewable energy. The two countries were again marching in step on Thursday—this time to fix a web of subsidies and compensations they created for green energy that had the unintended effect of driving up household electricity bills.
With Spain in the grips of recession, the government wants to lower consumers' light bills. In Germany, Chancellor Angela Merkel faces an election in September and hopes to win points with voters by putting a stop to rising electricity bills. The independent steps have been welcomed by German consumer groups, but have been slammed by businesses as German and Spanish politicians move to finance cuts for consumers by passing on the costs to companies. Get full story here from the Wall Street Journal.
Consumers Bear Brunt of German Switch to Renewable Energies ...
Rising Energy Prices: Germans Grow Wary of Switch to Renewables. Germany's switch to renewable energies is driving up electricity bills ...
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