COST-COMPETIVE NEW ENERGY, GERMANY’S 'GIFT TO THE WORLD’

Thank Germany for Falling Prices of Solar Panels and Wind Turbines

Harold L. Sirkin, November 18, 2014 (Bloomberg BusinessWeek)

“…[N]early 30 percent of Germany’s electric power comes from renewable energy sources, and the percentage is growing. This is not without a downside: Traditional electric utilities are struggling…[W]ith Russia supplying a reported 38 percent of its natural gas imports, 35 percent of its imported oil, and a quarter of its imported coal, Germany made a wise decision to move in new directions—generating electricity from wind and sun, renewable energy sources that the U.S. has been much slower to adopt…[ All the world will benefit from] Germany’s embrace of wind and solar power…[because the huge demand it created] for wind turbines and especially for solar panels…helped lure big Chinese manufacturers into the market…driving down costs faster than almost anyone thought possible just a few years ago…[If politicians leave things up to the market to sort out, the U.S. and other countries will inevitably move in Germany’s direction, as renewable energy becomes more cost-competitive. That, German analyst Markus Steigenberger told the [NY] Times, will be Germany’s ‘gift to the world.’” click here for more

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