Germany Subsidizes China To Destroy The German Solar Industry
“You could not make it up” is one of those done to death clichés popular with bloggers and journalists alike, yet clichés aside, the latest instalment in the demise of the German Solar industry really does earn the “You could not make it up” cliché.
Imagine if you taxed your industry with a CO2 emissions tax and then used the money raised to start the solar industry in a competing country that will always be able to undercut your own in price and always beat your own country in volume production.
Well Germany did just that thanks to the usual stupid unthought through policies of the Greens, it is bad enough for Germany that the solar industry has proved to be a €100 billion money pit, but it defies belief to fund the competition who will ultimately put you out of business.
Solar has been a very expensive mistake for Germany, in Britain solar has so far wasted £7 billion, and it just keeps getting worse day by day for German solar:
The Chinese solar boom has been generously supported by German financial aid. Germany’s Environment Ministry contributed €9 billion ($12 billion) in seed capital for China’s climate programme, using funds generated from the sale of CO2 emissions certificates to German industry.
It was a bad week for Germany’s crisis-ridden solar industry. First the government announced plans to slash subsidies for electricity from solar energy. Then the share prices of solar-panel makers plunged. Finally, after several rainy days in a row, the outlook for Germany’s solar economic miracle, long enthused about by Environment Minister Norbert Röttgen, now seems worse than ever before.
The environment minister with the center-right Christian Democratic Union (CDU) is aware who is principally to blame for the plight of the German solar industry: the Chinese. The emerging economy’s dumping policy has led to ruinous competition in the global market for solar panels, Röttgen said last Thursday, when he accused the Chinese of pursuing a “pricing policy designed to displace German companies.” Thanks to generous Chinese government subsidies, he added, the competition is able to “obtain almost unlimited capital.”
Politicians blinded by the light of Climate Religion are a major danger to the financial well being and energy security of any country, these people are incapable to thinking anything through to the end, they hear the words saves CO2 and they cease to think beyond this point.
Somehow the German government must have lost sight of the fact that its policy in fact encourages the demise of Germany’s own solar industry. The development bank of the government-owned KfW group of banks supports China’s green industry with low-interest loans. Ironically, the German Investment and Development Company (DEG), also a subsidiary of KfW, is one of the financial backers of Chinese industry giant Yingli Solar, which itself was a major sponsor of the last soccer World Cup and currently sponsors the German soccer club FC Bayern München.
You really have to be Green stupid to make a financial mess of these proportions, or a Socialist come to that.
Posted on February 28, 2012, in Anthropogenic Global Warming, Church Of Climatology, Climate Change, Global Warming, Green Jobs Lie, Green Lies, Green Taxation, Renewables and tagged Germany, Solar Power. Bookmark the permalink. 4 Comments.