President Obama has said America should look to Spain and Germany for leadership on renewable energy. Iain Murray of the Competitive Enterprise Institute says the President is right, but not necessarily in the way he thinks: “Germany and Spain are waking up to the inevitable truth about renewable energy. The projects cannot survive without subsidies and make energy much more expensive to households and businesses. The German subsidy is being paid for by a surcharge on household electricity bills that now makes up 14% of each household’s bill, and was supposed to keep growing until the public objected. Spain’s wind power has been such a disaster they’ve been forced to drastically cut the subsidies. America should learn from Europe’s woes and reject wind power subsidies.”
August 22, 2013 by Craig Rucker,
Craig Rucker is president and co-founder of CFACT.