Thursday, March 11, 2010

Solar’s Bubble Busted

Excerpt: In September the government abruptly changed course, cutting payments and capping solar construction. Puertollano’s brief boom turned bust. Factories and stores shut, thousands of workers lost jobs, foreign companies and banks abandoned contracts that had already been negotiated.

According to a study from King Juan Carlos University in Madrid, for every “green job” created by Spain’s solar subsidies, 2.2 jobs in other sectors were destroyed and $758,471 was spent to create each green job. Germany is also paying dearly for their solar subsidies. A study commissioned by the Institute for Energy Research (IER), found per worker subsidies for solar industry jobs are as high as $240,000.
Solar’s Bubble Busted

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