Europe Abandoning Renewable Energy Madness

The Australian reports that:
AS country after country abandons, curtails or reneges on once-generous support for renewable energy, Europe is beginning to realise that its green energy strategy is dying on the vine. Green dreams are giving way to hard economic realities.

Slowly but gradually, Europe is awakening to a green energy crisis, an economic and political debacle that is entirely self-inflicted.

The piece goes onto note that:
Two weeks ago, the Czech government decided to end all subsidies for new renewable energy projects at the end of this year. "The reason for this law amendment is the rising financial burden for electricity consumers," Prime Minister Jiri Rusnok said. "It threatens the competitiveness of our industry and raises consumers' uncertainty about power prices." In recent years, almost all EU member states also have begun the process of rolling back and cutting green subsidies.

Spain is a particularly cautionary tale. By failing to control the cost of guaranteed subsidies, the country has been saddled with €126bn of obligations to renewable-energy investors.

Now that the Spanish government has dramatically curtailed these subsidies, even retrospectively, more than 50,000 solar entrepreneurs face financial disaster and bankruptcy.

Germany, however, is the nation that has pushed the renewables agenda furthest and is struggling most with the unintended damage of the green energy shift, its so-called Energiewende.

Germany's renewable energy levy, which subsidises green energy production, rose from €14bn to €20bn in just one year as a result of the fierce expansion of wind and solar power projects. Since the introduction of the levy in 2000, the electricity bill of German consumers has doubled.

German households will pay a renewables surcharge of €7.2bn this year alone. In addition, consumers will be affected by indirect costs because industry, trade and commerce pass on their rising energy costs in product prices. And because green energy subsidies are guaranteed for 20 years, the costs threaten to rise exorbitantly as more schemes are being agreed. Energy bills are going through the roof, fuel poverty is rising and renewable energy policies face a growing public backlash. What is more, governments are increasingly concerned about the threat to Europe's industrial base.

Germany has the most expensive electricity in Europe, with an average price of 26.8 euro cents (40c) a kilowatt hour. No wonder Chancellor Angela Merkel has warned that the rapid expansion of green energy programs is weakening Germany's competitive advantage in the global economy.

The EU also is quietly rolling back its renewable agenda, which EU leaders now recognise has been raising energy prices across the Continent. At their summit in Brussels in May, leaders indicated that they intended to prioritise the issue of affordable energy over cutting greenhouse gas emissions.

We have previously noted how Green schemes are collapsing around the world and have been a disaster in GermanySpainUK and the USA, while the British Government has also announced it is scrapping all Green energy subsidies.

This is why it is madness that Tony Abbott is still committing his government to an economically devastating  "renewable energy target".

If we want economic sanity to prevail under a Coalition Government (which presently seems likely) , joing out  campaign telling Tony to Axe The RET!

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