The parallel-energy universe known as renewables, a place where dollars and economic theory know no bounds and make no sense, looks increasingly like a bubble set to collapse. News that the pioneer German solar power company Solon filed for creditor protection Tuesday suggests last year’s seep of air out of the jolly green subsidy giant has become a great vacuum blowout. The various corporate-welfare seekers that have been straddling the renewable sector will not give up easily or gracefully, but the hot-air balloon that is green-energy economics is rapidly losing the ga-ga popular support it has had for the past decade. The loss of political backing, massive overexpansion under the subsidy push, plus the realization that renewable energy comes with bazillion-dollar costs to consumers and/or taxpayers, all spell trouble for solar, wind, biofuels and other green-energy sources. Also at risk of taking a hit, internationally and in Canada, are some of the venture capitalists and financial heavyweights who have been riding the global climate-change scare for every dollar of subsidy they can get out of it. More here

(Dr. Benny Peiser)