Thanks to these inflated prices, investors funded many wind and solar projects after the 2008 recession caused European electricity demand to stall or decline. This created overcapacity and reduced system reliability as gas-fired plants were idled in response. Blackouts are now increasingly likely.
That may please global warming alarmists, but not consumers with limited incomes. In Germany, about 25 percent of power comes from wind or solar — but consumer prices have doubled since 2000. And, as GDF Suez CEO Gerard Mestrallet recently told The Wall Street Journal, “carbon emissions keep increasing.”
In the United States, consumers continue to prefer affordable over expensive, but theoretically cleaner, power. Yet the Obama administration's hostility to fracking and preference for “green” energy is well known. Europe illustrates the folly of overdependence on wind and solar. If the administration boosts those industries by impeding domestic oil and gas production, the result won't be a cleaner environment, just a higher cost of living and lower quality of life.