Throwing a FiT « The Daily Bayonet

The eco-dream of renewable energy is turning into a nightmare as the true cost of subsidizing solar and wind generation becomes clear.

The UK is the latest government to slash solar subsidies for large-scale projects, from 30p per KWh to 8.5p. In USD at today’s currency rates that’s a reduction from $0.49 to $0.14. Already large-scale producers are complaining they will not be able to continue ‘investing’ in solar projects. And by investing they mean sucking the life from the economy and taxpayers.