Sunday, September 21, 2014
Germany- Ill wind blows no good!
Germany is now beginning to suffer from excessive and foolhardy investments in subsidised "green" energy as many wind investments go into the red as forecast by skeptics.The ailing wind industry in Germany should be a salutary lesson to Australia , the USA and other countries going down the same path . The under-performing wind industry in Germany was oversold and is now in trouble as red ink mounts with two thirds of projects running "badly or very badly".
Wind parks experienced a gold rush atmosphere during the last decade, with thousands of turbines being erected over the last 15 years. Now the data are coming in on their real performance. It looks pretty bad. The German SWR TV report (can be viewed at Youtube) first presents the background on wind energy development in Germany and tells the story of “disappointed investors”, especially in the western German state of Rhineland Palantinate.
Initially investors’ expectations of getting rich on wind were high, the report says. Big returns were promised (between 400 and 800% in 2006). But for a wide majority that dream has shattered violently as losses mount.
“2/3 of all projects are running badly to very badly”
The SWR report at the 1:20 mark says the promises of huge returns were based on overly optimistic wind model forecasts. Werner Haldorf of the pro-wind-energy German Association of Wind Energy analyzed wind park performance and sums up the “surprising” results at the 1:38 mark:
We can say that one third of all projects have pleased the investors, or at least have been satisfactory – depending on how high or low the subjective expectations were, satisfied also with respect to the planning results. And two thirds of all projects are running somewhat badly to very badly.”