UK Renewables Industry What Happend To Venture Capitalism?
Once upon a time in Britain there was something know as venture capitalism, where private companies and individuals risked their own money to make a profit, then along slithered Climate Religion and venture capitalism was replaced by crony capitalism and tax payer subsidies.
Universally recognised as economically unviable without huge tax payer subsidies, the renewables industry has been onto a good thing, the same bottomless purse of the tax payers money that underwrites the wasteful spending of Government Departments, is via ever increasing energy bills propping up an industry that has no real commercial future.
The Government announced an end to the “Morally wrong” renewables subsidies, now the Solar Energy scam companies are using the tax payer subsidies to initiate legal action against the government in an effort to keep their
Climate Religion Junk Science funded gravy train on the tracks:
A coalition of UK solar companies has initiated legal action against the government in response to its plans to more than halve solar subsidies.
The action focuses on the recent announcement by the Department of Energy and Climate Change (Decc) to cut the rate paid to householders with solar panels under the feed-in tariff from 43p per kWh to 21p, significantly reducing the attractiveness of the technology to customers and investors.
Decc has said that the new rates will apply from 12 December, just six weeks after the announcement was made and before the consultation on the proposed changes closes on 23 December.
The lawyers acting for the solar companies will argue that the 12 December deadline is unlawful on the grounds that it prejudges the consultation process and is being implemented without adherence to the correct procedures. The lawyers will also argue that the deadline is “unreasonable” because of its impact on the industry and on groups which have spent time and money developing projects that will have to be cancelled if they can’t be completed by 12 December.
At no time did the government sign a contract with these leeches, if the government cancels or changes a program then that is just part of the risk, the rewards can be huge so can the losses it’s all part and parcel of being in business.
Why should the renewables industry be given a safety net when that net costs jobs in conventional industries and pushes more families into energy poverty?
Posted on November 10, 2011, in Anthropogenic Global Warming, Climate Change, COP17, Global Warming, Green Lies, Renewables and tagged Green Stealth Taxes, Green Subsidies, Solar Power. Bookmark the permalink. 8 Comments.