Here ’s a Spanish cemetary which installed solar venire on top of the mausoleum a year or two back . It ’s a fitting epitome , because Spain has just buried its enormous push for solar vim , thanks to the financial crisis .
harmonize to Bloomberg , Spain is choking off its massive investment funds in solar power , which involves subsidies and investiture guarantees for solar plant , because Standard and Poors just lowered the country ’s debt rating and there are care it ’ll be tarred with the same brush as the tragedy - prostrate Greek :
Spain is battling on several fronts to revive its economy and convince government bondholders it can avoid getting dragged into a Greek - flair debt spiral after Standard & Poor ’s skip its credit rating April 28 . Solar - plant owner include General Electric Co. clear about 12 clip what ’s pay for power from fossil fuels . Most of that is a subsidy agitate to client .
Prime Minister Jose Luis Rodriguez Zapatero ’s government last trim solar rates in 2008 , strike plants not progress at the time . Now it ’s press reductions for the thousands of installation already making power from the sun , wind and biomass .
Yes , you see that right . They ’re not just cutting back on future guarantees , but weaseling out on hope they made to existing projects . In the terminal , Spain ’s solar power industry may be doom , at a crucial second , because of a crisis produce by a handful of hedgerow investment firm managers run amuck . It ’s almost unimaginable .
And we ’ll be depart with a country full of defunct solar plants , a giant mausoleum commemorating the futurity that never was :
Photos by AP .
Ap photoEcologyEnergyScienceSolar mogul
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