Spain has long been touted as a role model for renewable energy development. Leading environmentalists, and even President Obama, have championed the aggressive manner Spain has pursued wind and solar energy development. But how is Spain faring? Not so well, at least according to numerous reports which reveal that despite six billion euros poured into the effort, only 2 percent of Spain’s electricity is produced by solar power. Even worse, for every one job created in Spain’s green economy, over 2 are lost, and the cost to subsidize renewable electricity is soaring. With unemployment topping 20 percent, it’s little wonder Spain has halted new construction of its wind and solar projects.
September 3, 2012 by CFACT,
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