Across the world solar energy share prices have crashed. This was caused by a sudden and unexpected decision by China, the world’s biggest solar manufacturer and user, to rein in subsidies.
According to Caixin Global:
China has abruptly put the brakes on solar power subsidies, seeking to stem overcapacity in a sector that has benefited for years from government incentives.
The move caught many in the industry off guard.
The government won’t grant subsidies to any new ordinary solar projects this year. For those that are being built, the incentives will be cut by 0.05 yuan (0.8 U.S. cents) per kilowatt-hour (kWh).
Solar stocks have fallen across the board by double digits. It’s uncertain when they will recover.
It hasn’t been a good week for wind energy either. In Britain, the industry has become a national joke because for seven days its wind turbines stood still and produced no electricity. Great news for all the birds and bats they would otherwise have sliced and diced; no problem for the renewables industry troughers who still get their rich subsidies whether the wind blows or not. But definitely unfortunate PR for an industry which would prefer everyone not to notice one of wind energy’s main problems: it’s intermittent – which means that a) it’s not always there when you need it and so b) it requires constant back up from more reliable fossil fuel on standby.
The rest of the article is at the following link: http://www.breitbart.com/big-government/2018/06/09/delingpole-epic-...