Spain's solar energy crisis: 62,000 people bankrupt after investing in solar panels

France 24 www.msn.com ^ | 2/21/2022 | france 24

[RomanSoldier19]

Seventeen years ago, Spain's socialist government decided to inject subsidies into renewable energy. As a result, thousands of Spanish families massively invested in photovoltaic energy. But, as you'll see irjour report, the dream rapidly turned into a nightmare.

[RomanSoldier19]

[Track9]

Muggings usually turn people conservative. Spaniards… who knows. They do have an admirable bull fighting tradition. So there is that.

[T.B. Yoits]

How many of these people who went bankrupt investing in solar panels in Spain are British ex-patriots?

[Bubba_Leroy]

“The problem with socialism is that you eventually run out of other people’s money.” ― Margaret Thatcher

[Bubba_Leroy]

“The most terrifying words in the English language are: ‘I’m from the government and I’m here to help.’” - Ronald Reagan

[DIRTYSECRET]

My buddy here fell for the scam. The solar builders don’t have your money but they will get paid. Your house is the collateral. No proof it will work as promised or pay off. Deep state.

[T.B. Yoits]

Not long ago towns near me had some corrupt deal where they had solar collectors on almost every telephone pole in town.

Now when you drive through the few scattered remaining ones stand out like litter fifteen feet off the ground.

...all that taxpayer money just thrown at political cronies.

[blackdog]

1977. 2008. 2022. History repeats itself.

[rellic]

I suppose that is why I’m not rich. You never, never risk your home. You always need a pot to pee in. Find another way.
don’t let greed overpower due diligence.

[VTenigma]

If you can’t make solar power work in Spain maybe solar power is unworkable, jus sayin’.

[bosco24]

Right next to Kirtland AFB is a large array of tracking (supposed to be tracking) solar panels that was built on 2012 with a large sign that the solar project was from Obama. Now the field is a wreck with panels overturned and falling off, a total wreck like most of Obama’s ideas.

[Phil]

Hope the sign is still up declaring it is an Obama Project.

[Lonesome in Massachussets]

Any pictures? Even google street view?

[Tell It Right]

My solar panels and batteries work as per spec and warranty. But it requires doing tons of homework ahead of time to know what you can get in your situation (peak solar hours per day in your area, avg sunny days, angle of roof facing south, avg power consumed per day per month, etc.). Know enough to almost do it yourself, then hire a solar installer and you'll be able to tell which installers are offering you a pipe dream.

I guess it's like anything else expensive.

[DIRTYSECRET]

My cable tv installer put in solar before switching. He said it wasn’t truth in advertising.

[Organic Panic]

On Big Island Hawaii they maintain non functioning Windmills just so people can see them rotating. They don’t produce power, but they still spin...

[bosco24]

“Any pictures? Even google street view?”

You can see it google earth just South of where Eubank ends by Kirtland AFB. I am not sure when the satellite picture was taken but it must have been a few years ago as the picture only show a little damage. Now days it is much worse than shown when the satellite picture was taken.

[Two Kids' Dad]

The big red flag about the solar scam is that there aren’t any stores selling the products, only random sales people selling the programs.

[ronnie raygun]

GREEN NEW DEAL AT WORK, A BIG SCAM

[Tell It Right]

My system produced 55% of my power last year in my all electric two-story house. But all the variables are right for me. I’m in the south with lots of sun and most of my power consumption is for A/C in the summer — when I get even more sun. No shade on my roof. My variable speed heat pump rarely draws more than 1kW power (meaning my 9kW inverter has 8kW left it can do to power other appliances before pulling from the grid). The same for my hybrid water heater drawing low power to slowly reheat my water tank with just my wife and I living together. I like it so much I’m doubting my solar panels and inverter and tripling my battery storage and getting an EV.

I’m not saying solar is great for everyone. I’m saying don’t diss it automatically. If you do a deep dive research on your situation it may work for you and give your monthly budget the same freedom from Dim control freak energy policy chaos that I’ve experienced the past year.