Spain hopes to reduce debt and begin a new economic recovery with this decision. How? A study, by an economics professor in Madrid in 2009, claimed that each “green” MW installed in Spain destroyed 5.39 jobs in non-energy sectors! Additionally, only 1/10 of the “green” jobs were permanent. Their track record also includes spending $774,000/each “green” job created. Why can’t the USA LEARN from this (and other similar EU mistakes) and not repeat history? Aren’t we supposed to learn from history, so it doesn’t repeat itself?….
Spain has now joined a number of other European countries suffering from green fatigue. It has announced that it can no more maintain green energy subsidy regime.
As per the new directions, Spain has ended all price subsides for wind power projects that came into existence before the end of 2004. Not only older wind capacity, but younger wind capacity will also be affected. It has been found that remuneration for the latter is also being reduced.
Windpower Monthly unveiled that 1,600 parameters have been sent to calculate renewables remuneration. “It fleshes out a June 2013 law replacing all renewables feed-in tariffs with a remuneration based, instead, on a reasonable profit of 7.5 percent across plant lifecycle”.
Over 37% of Spains 22.6 gigawatts of wind power will not be subsidized. The news has raised concerns among the wind power industry and it has called the new policies to be retroactive looting. The government has promised to maintain generous feed-in tariffs for 20 years and this acted as a big lure for the investors to come into the industry.
But now the government is changing its stance. Feed-in tariffs are one of the measures to increase green energy generation. To do so, authorities concerned offer operators above-market rates for their power. It has been found that slow economy and budget issues have led Spain to take such a step….