[ExI] A Nobel laureate and climate change

[BillK]

2011/9/18 john clark wrote:
> And that's why wind farms and solar panel companies don't need huge subsidies. Oh wait they do.
> Tax benefits are the only reason wind farms exist and Solyndra just went under taking over half a
> billion dollars of taxpayers money with it; they found out that selling solar panels for half of what it
> cost to make them was not a good business model. Maybe we'll need more than moonbeams and
> lollipops to power the world economy after all. Maybe its time to get serious.
>
>

Solyndra failed, as you say, because they didn't reduce production
costs like other solar companies were doing.
See:
<http://www.zerohedge.com/contributed/solyndra-solar-failed-poor-cost-structure-not-china>

But solar power is a new booming industry. There are always lots of
failures at the start of a new industry. (Remember all the failed
Internet startups?).  The government made a failed investment in the
case of Solyndra, but other investments are doing nicely.  Nobody can
pick winners every time. Even venture funds make mistakes sometimes.
;)

I think all western governments decided to encourage investments in
renewable energy industries because private industry won't invest
until they see a near-term profit. Governments need renewable energy
in the near future and they don't want to wait until fuel is $20 USD
per gallon.

Germany (where Eugen is) is doing very nicely in the renewable energy races.


BillK