Companies large and small go bankrupt all the time, but Solarwatt which has been around since 1999, you would imagine would be able to weather the storm especially with all subsidies, positive press and in general special treatment, the renewable energies space has received.
People tend to forget that Tesla, which is leader in the so-called green energy revolution, has yet to turn a profit WITHOUT government subsides. One thing I can respect the Germans for is that at the very least they tried.
Germany was one of the early adapters to “green” energy, following German is why I know, in the west, renewable energies are doomed to fail, but, unlike the anti-solar crowd, I’m CLAIMING green energies are failing in the west because of the ENVIRONMENTAL SOCILIASTS and their PRICE CONTROLS.
Canada is the PERFECT example of environment-CHAMPAYGNE-socialists, every chance the Canadian government has gotten, they’ve RAISED their PERSONALLY salaries. I remind you that in Canada, unlike Germany, they haven’t gone through the MASS MANUFACTURING stage yet, in fact the Canadian governments have been forced to SUBSIDIZE “green” projects, during a period of rampant inflation, scarce resources, abrain drain and higher interest rates.
When Germany began their “green” revolution, interest rates were low, Germany doesn’t have a brain drain and they were MANUFACTURING, not importing a lot of their green energy. Obviously now that mass adoption to green energies are here, the countries with the LOWEST cost of production are winning these green energy races.
I bring this up because that’s why Solarwatt is uncompetitive, permits, price controls and regulations in Germany make solar to expensive to produce there, you also have to factor in the rising cost of energy, fueled by the Environmental, social, and governance(ESG).
The cost of production in the WEST was already high, prior to ESG, ESG only guarantees the West will be in permanent energy decline, because if solar and wind are the future, CHINA might as well add itself to OPEC. OPEC + Russia + China.
Again private companies go bust all the time, but you have to remember that “Solarwatt” is stopping production in Germany, during a period in which the green energy space is getting all sorts of FREE support.
One can only imagine this will accelerate in the future.
Solar panel company stops production at its German factory
| yahoo.com
Interesting times ahead