Renewables bubble popping

- Germany installs fewest wind turbines since 2000
- Tesla lost $2.6B in bail-out of Solar City
- SoftBank has built or has deals for just 1.6% of solar farms promised
- Subsidies ending in US, UK, Germany
- Local & eco opposition to renewables growing
Industrial wind turbine installations declined 82% since 2018

Main reason is local & environmentalist opposition to high number of bird deaths, particularly the red kite, a raptor

In 2 years, more wind turbines will be scrapped than added in Germany

thegwpf.com/collapse-of-wi…
Tesla wasted $2.6B bailing out failing Solar City

Solar City installations down 86% from peak

Abandons much-hyped solar roof tiles

Analyst: Tesla would “be better off shutting the solar business down”

latimes.com/business/story…
Soft Bank promised 220GW solar in India & Saudi Arabia but has done just 3GW in *deals* not contracts in India & *zero* in Saudi

The need for huge tracts of land for solar (400x more than for nuclear) has triggered resistance by squatters in India

wsj.com/articles/softb…
Soft Bank’s spectacular failure is a result of the company’s founder viewing solar panels as similar to microchips

But information tech is utterly unlike energy tech

“In tech, ­ bet­ting big can dis­rupt mar­kets... But in infrastructure, it can­not.”

wsj.com/articles/softb…
In UK

- in 2018, new renewables fell to lowest level since 2012 & would have fallen more had there not been increase in bioenergy, aka wood-burning, which is worse than fossil fuels

-renewables had already declined 56% from 2016 to 2017

theguardian.com/environment/20…
In Germany, only 8% of massive transmission lines have been built due to local & environmentalist resistance

The 20-year subsidies granted to renewables since 2000 end next year

“The wind power boom is over,” says Der Spiegel

forbes.com/sites/michaels…
Renewables “revolution” was a mirage

Always depended on massive, unsustainable subsidies

Would cost $3-4 trillion for Germany to go from today’s 35% renewables to 100%

Germany gets as much power from biomass, which is polluting, as from solar

Germany remains fossil-powered
Renewables always fail for same reasons

- they externalize onto society the high cost of adding unreliable electricity to the grid;

- their low energy density means they degrade nature & kill wildlife

- they’re only profitable when heavily subsidized

forbes.com/sites/michaels…
The only “Green New Deals” that have worked were done with nuclear, not solar

forbes.com/sites/michaels…
Had California and Germany invested $680 billion into new nuclear power plants instead of renewables like solar and wind farms, the two would already be generating 100% or more of their electricity from clean (low-emissions) energy sources

forbes.com/sites/michaels…
No amount of marketing could change the poor physics of land-intensive renewables. Solar farms take 450 times more land than nuclear plants, and wind farms take 700 times more land than natural gas wells, to produce the same amount of energy.
The transition to renewables was doomed because modern industrial people, no matter how Romantic they are, do not want to return to pre-modern life.

The reason renewables can’t power modern civilization is because they were never meant to.

forbes.com/sites/michaels…

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