Thursday, January 19, 2012

Germany's Solar-Powered Bubble Bursting

Solar Subsidy Sinkhole: Re-Evaluating Germany's Blind Faith in the Sun - SPIEGEL ONLINE - News - International:
"Because of the poor electricity yield, solar energy production also saves little in the way of harmful carbon dioxide emissions, especially compared to other possible subsidization programs. To avoid a ton of CO2 emissions, one can spend €5 on insulating the roof of an old building, invest €20 in a new gas-fired power plant or sink about €500 into a new solar energy system.

The benefit to the climate is the same in all three cases. "From the standpoint of the climate, every solar system is a bad investment," says Joachim Weimann, an environmental economist in the eastern German city of Magdeburg. Hans-Werner Sinn of the Munich-based Ifo Institute for Economic Research calls solar energy a "waste of money at the expense of climate protection.""
Read the full article at Spiegel Onliine

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