Solar Setbacks in Australia and Elsewhere

South Australia was planning to build the world's largest thermal solar plant. There were notices in the press and the peer review in heralding the grand scheme. Claims were that the cost of the plant would be cut to one half, and produce three times more energy. ¹ The plant received formal development approval from the state government on January 9, 2018. SolarReserve anticipated commencing construction in mid-2018 and taking 650 workers two and a half years to build it.

“How is it possible to believe somebody can be able to cut the cost of the plant to one half, and produce three times more? Magical thinking

On April 5, 2019, SolarReserve said the project would not be going ahead.¹ As one reviewer asked, “How is it possible to believe somebody can be able to cut the cost of the plant to one half, and produce three times more? Magical thinking. The company's prototype was Crescent Dunes Solar Energy Project located near Tonopah, Nevada which had a capacity factor of only 16%. Possible investors also weren't enthused about the dismal operation of that smaller sister plant in California which was beset with maintenance issues and failed for one third of the time in its first two years. That 110MW plant cost $1.3 billion in 2015 and produced electricity at $178/MWh, nearly 6 times as pricey as the 53 year old Hazelwood coal plant in Australia managed in its last month of operation. ² This isn't the first time Australia experienced solar setbacks. In July 2014 Joanne Nova reported, “We're told 'clean' energy is viable and cost effective. But cut the government subsidies and 97 percent of investors vanish. In Australia it's collapsed from $2.6 billion annually to $80 million. The truth is that renewables are almost totally dependent on taxpayer largess.” ³ In the United States, venture capitalists lost half of the $25 billion they pumped into startups of wind and solar between 2006 and 2011.⁴ In 2009, Obama and his crowd gave Solyndra $535 million of loan guarantees; it promptly defaulted by 2011.

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Germany is the poster child for the global warming movement. However, after the government decided to reduce subsidies to the solar industry in 2012, the industry nose-dived. By 2018 virtually every major German solar producer had gone under as new capacity declined by 90 percent and new investment by 92 percent. Some 80,000 workers, 70 percent of the solar workforce lost their jobs. ⁵ Spain is retrospectively capping its renewable subsidies, lapping 40% off the earnings of its largest solar operator. There were public protests about electricity prices in Bulgaria that were so bad, the government is demanding some subsidies get paid back. References

1. Albert Parker, “South Australia's latest green energy scam- the floundering tower of power,” wattsupwiththat.com, April 6, 2019
2. Joanne Nova, “World's biggest solar thermal plant axed in state that is God's gift to solar,” joannenova.com.au, April 6, 2019
3. Joanne Nova, “97 percent of Australian renewables investment dries up without subsidies, so the ABC (Australian Broadcasting Corporation) gives free adverts to the industry,” joannenova.com, July 22, 2014
4. Michael S. Coffman, “Power down.” Range Magazine. Spring 2017
5. Lawrence Solomon, “Are solar and wind finally cheaper than fossil fuels? Not a chance,” Financial Post, April 27, 2018