“As long as countries like China keep going all-in on clean energy,” President Obama said in last week’s State of the Union Address, “so must we.”
Obama has thrust the U.S. into an arms race in green-energy subsidies. To grasp the difficulty – or perhaps futility – of such a contest, look at SolarWorld, the subsidized German manufacturer now drowning in a sea of cheap Chinese panels.
Bonn-based SolarWorld has benefitted nicely from German solar subsidies for years. In 2008, the company opened U.S. operations in Oregon, with help from local politicians.
Oregon offered SolarWorld up to $100 million in renewable energy tax credits. Boris Klebensberger, the company’s COO, asked for more. The Oregonian reported at the time: “Klebensberger, calling the right to have renewable energy a ‘civil right,’ urged Oregonians to push for more government support and incentives for the sector.”
Read more at The Washington Examiner. By Tim Carney.