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Slowly but gradually, Europe is awakening to a green energy crisis, an economic and political debacle that is entirely self-inflicted.
Indeed the problems are self-inflected but far from the way the article would have you believe.
EU members states have spent about €600 billion ($882bn) on renewable energy projects since 2005, according to Bloomberg New Energy Finance. Germany’s green energy transition alone may cost consumers up to €1 trillion by 2030, the German government recently warned.
These hundreds of billions are being paid by ordinary families and small and medium-sized businesses in what is undoubtedly one of the biggest wealth transfers from poor to rich in modern European history. Rising energy bills are dampening consumers’ spending, a poisonous development for a Continent struggling with a severe economic and financial crisis.
The German Association of Energy Consumers estimates that up to 800,000 Germans have had their power cut off because they couldn’t pay the country’s rising electricity bills
The folly is not in going green but in taking the high-priced rich man’s route that guarantees continued enslavement to fossil fuels, most notably solar and wind.
For many weeks in December and January, Germany’s 1.1 million solar power systems generated almost no electricity. During much of those overcast winter months, solar panels more or less stopped generating electricity. To prevent blackouts, grid operators had to import nuclear energy from France and the Czech Republic and power up an old oil-fired power plant in Austria.
The answer is plain enough for the few that will listen – like some of the poorest countries on the planet.
Baseload renewables, primarily geothermal and biomass, are cheaper than the foppery of sometime power, far more potent and plentiful than fossil fuels.
We will learn or we may not survive.