Solar Swindle

Derek Scissors / August 25, 2009

The New York Times has a front-page story today on China outrunning the U.S. in producing solar panels. The high profile is due to the Obama Administration trying to spin what is nothing more than a race to see which country will waste more money.

Solar power is a wonderful idea. It’s renewable, it’s clean, and parts of the U.S. are very rich in solar resources. Unfortunately, for right now it costs far too much money to generate — far more than nuclear, coal, oil, gas, or almost any other source.

It costs too much here, it costs too much in China, and it costs too much in Europe. The extra cost can only be made up by taxes or charging more for electricity (which is essentially a tax, one that hurts poorer people more). That’s why the Administration has stopped talking so much about how ‘green’ energy will help the economy. (more…)