Posted on 04/14/2019 6:08:54 AM PDT by WellyP
German Wind Turbine Maker Senvion’s Spectacular Financial Collaps… Cut the subsidies and the wind industry would disappear in a heartbeat. The business model (read ‘colossal government mandated scam’) has all the hallmarks of an enormous Ponzi scheme – the wind industry’s demise is a matter of when, not if. The withdrawal of subsidies across Europe has taken its toll, as the number of new turbines erected plummets. Twelve countries in the European Union (EU) failed to install “a single wind turbine” last year.
Saddled with debt and peddling the world’s worst wind turbines hasn’t helped German turbine maker Senvion, either.
(Excerpt) Read more at stopthesethings.com ...
The windmills are popping up all over south and west Texas.
What is the business model?
Can the industry survive without a subsidy?
Key word: subsidies. Wind and solar can only survive with taxpayer cash flowing in. And then you get corruption: Solyndra.
The world learned a century or so ago about wind. While wind does in fact power boats with sails, even the very best sailed boats are unreliable when the wind diminishes
Further, there are many competing energy sources that do a better and more reliable job.
Wind for electric power is a failing fad
Shares tanked on the news, dropping 49 percent in 24 hours to less than €0.50 a share ($0.56). Senvion’s share price has fallen more than 95 percent in the last 12 months.
Reality slaps a global con-game directly in the face. Texas has huge numbers of them. It makes ZERO sense here. Wind turbines and solar panels can work on remote cabins for lights and low power electronics using DC battery storage. It is worthless for high current AC generation, like HVAC and electric ranges.
So you’re saying the wind power industry is in the doldrums?
Government mandated power purchase agreements with mandated prices. You will buy our product.
If you want your windmill, you can keep your windmill...
Wind & Solar Power — with a few regional exceptions — are what you get when politics colides with economics. Economics loses. The poster child for what we have been doing for the last 25 years as a nation is AOC, whose joke of a college degree is a BA in Political Science & Economics. She has a 5 year old’s grasp of economics just like about 60 percent of the US electorate.
A couple of years ago there were salesmen spread over our rural community trying to sell wind turbines to the local farmers. Big tax rebates were offered. Our farmers are very astute at accounting and business. When the farmers rejected their first offers the salesmen came back with the deal would GIVE them the turbines free if the company could take the tax rebates. The farmers would be responsible for maintenance costs. No farmer in the county took a wind turbine.
The German wind turbine maker could find a booming market in the US heartland where liberal politicians are still wasting taxpayer’s money building forests of windmills to blight the landscape and raise our electric rates.
I offer an example.
At Philmont Scout ranch, I backpacked in to the far boondocks to a camp that had running water. The water was pumped into a tank from a well by pumps powered by electric motors running on electricity from solar cells. Above the well were old maintenance heavy wind mills.
I have driven all over Texas and can testify to the truth of your post. If you observe an array of the wind turbines and count them, almost always some will be out of action. The number is at least 10%
In the area around Amarillo, this was not true, the rate of inoperative turbines was less.
This was Merkels brainchild. Just shows that so called conservative politicians are no better at central planning that progressives.
Wait until the bankrupt PG&E starts cramming-down the new rate structure on the hapless and hopeless residents of California.
That will be another lesson in applied economics. /sarc
Bet BU's real proud of that.
To be fair, she probably was one of the brightest kids in the class...
Very funny! Post of the day!
I’ll be here all week. Try the veal...
Which politicians made loads of bribe money on this?
Answer: All of them.
It costs more energy to build, set up and maintain these things than we get out of them.
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