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December 5, 2010

Green Collapse

Seems like lots of folks are getting out of the wind/solar scam market:

"On Friday, Spain slashed payouts for wind projects by 35% while denying support for solar thermal projects in their first year of operation.

"Also Friday, France announced a four-month freeze on solar projects and a cap on the amount of solar that can be built, to nip a "veritable speculative bubble" by its rapacious renewables industry.

"Earlier this week, the German government announced it may discontinue the solar industry's sweetheart tariffs in 2012.

"Also in October, New South Wales, Australia's most populous state, slashed by two-thirds the revenue that homeowners who had installed solar panels would receive,

"Also in October, the U.K. government announced that withering spending cuts were coming to renewable projects, many of which have already been withering,

"With the market for wind shrinking, Denmark's Vestas, the world's largest wind-turbine company, recently announced it is closing five production facilities in Denmark and Sweden and laying off 3,000 workers

"Next week: Eviscerating the renewables investor." -- Lawrence Solomon, Financial Post

Posted by Vanderleun at December 5, 2010 6:56 AM. This is an entry on the sideblog of American Digest: Check it out.

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