- JoNova - https://joannenova.com.au -

Still no free lunch: 62,000 people bankrupted by Spain’s solar subsidy-industry

The Socialists in Spain offered bonanza subsidies to build solar plants. People accepted them. Too many people accepted them.

Then the Socialist-rulers realized they could not pay them all. But the solar panels had been built. The debts were all accrued. All that was left was for investors to learn the true value of surges of surplus energy at the same time of day.

Sadly people faced losing their homes, in what must have been a grueling realization.

If only Socialists could do maths, they could have seen this coming. It’s not even quantum mechanics, it’s just arithmetic.

If only investors researched their investments and remembered that if it looks too good to be true, everyone else will pile on, and supply will wildly exceed demand, especially because no one really wants extra electrons for lunch.

Teach the children. The government should not be picking winners, but if it does, buy something else.

h/t Jim Simpson

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