With wind power subsidies drying up across Europe, the prospects for RE rent seekers look bleaker than ever.
It seems like only yesterday, that we were told that wind power was cheaper than coal, sustainable and would power us into the next millennium. Indeed, the transition was meant to be ‘inevitable’.
Meanwhile, back on Earth, those evil forces of physics and economics have combined to smack the dreamers with just a little reality.
Wind turbines don’t last the 25 years promised by promoters – their economic lifespan tops out at around 15 years. Which means that within a decade Europe will be covered in tens of thousands of 2-300 tonne hulks, quietly rusting and leaking a cocktail of toxic ooze into the landscape.
In the absence of subsidies, they will never be replaced and simply stand as highly visible monuments to the greatest example of collective stupidity since the pyramids…
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