Europe is about to become the “new dark continent” according to the WSJ. The culprit? Feed-in tariffs.
“These wind and solar subsidies have increased Europe’s energy costs by 17% for consumers and 21% for industry in the last four years. But more ominous is the havoc the mandates are creating for utilities… Last week the CEOs of Europe’s 10 largest utilities finally cried uncle and called for a halt to wind and solar subsidies. Short of that, they want subsidies of their own. They want to be paid, in essence, not to produce power.”
Europe is pushing people into energy poverty and killing industry’s ability to compete. Can others learn before it’s too late?