We have been predicting a massive solar energy boom in Japan due to the generous solar feed in tariffs set by the Japanese Government in the wake of the Fukushima Nuclear accident. Note Japan generates very little electricity from renewable sources of power like wind and solar energy. However that is changing with a large […]
The Bulgarian Government is set to face numerous lawsuits from investors in solar power plants as it imposes electricity grid fees on existing solar power plants to reduce their returns. This will reduce the returns for solar investors by 20-40% and bring down the electricity rates for Europe’s poorest citizens who saw rates go up […]
Astronergy was founded in 2006 and is the solar subsidiary of the Chint Group. As a leading integrated solar manufacturer, Astronergy specializes in research, development & production of high performance monocrystalline and polycrystalline cells & modules, as well as amorphous/microcrystalline thin film PV modules. With support from its parent company Chint, Astronergy has become a […]
Renewable Energy is Easter Europe has boomed driven by government incentives and subsidies.Many of these countries like Estonia,Bulgaria and Czech are cutting or already have cut generous feed in tariffs paid to Green Energy Investors.While Czech has seen an unprecedented Solar Boom leading to a massive public backlash,Estonia and Bulgaria have seen huge wind energy projects.The Green Energy has boomed in the last 2 years mainly as governments in these countries try to meet the Renewable Energy Target of 20% by 2020 set by the European Union.These East European countries have been hit hard by these EU directives as the costs have spiralled
Bulgaria has also now decided to cap Renewable Energy Growth with around 12.5 GW of Green Energy applications lying in the backlog.Poorly designed and implemented subsidies are the root cause for such booms and busts.Poor Governance mechanisms are behind these Green Disasters.Bulgaria is the poorest European Union Country and can ill afford higher electricity prices.The government is targeting a 16% RE target by 2020 for which it wants to fix targets for different Green Energy Sources.The power grid operator has already warned of blackouts in case even half of the 12 GW Renewable Energy applications are actually constructed.Solar and Wind Energy have been incentivized with high FITs with global heavyweights like Siemens and Suzlon rushing in to build wind farms.
The Greek Contagion was precipitated by news that Greece has fudged public account figures to gain admittance to the European Union taking the help of Goldman Sachs (using structured finance products).This led to a heightened risk perception about the quality of Greek Budget figures and led to a Bond Crisis which had to be ultimately […]