The ECOreport Part Three of the Five Most Attractive Nations for Renewable Investments, Energiewende Will Succeed
Bye Roy L Hales
American critics of Energiewende regularly announce its approaching demise. A hypocritical article in the Wallstreet Journal announced that Germany will spend €1 trillion on its’ renewable energy experiment by 2040, without mentioning that a large portion of that money was for electric grid upgrades that would be needed anyway. Nor did the author disclose the fact an even larger sum (€90 billion a year) would have gone to fossil fuels. Similarly, Forbes mocked Germany’s slight rise in CO2 levels, without mentioning they are already 23% lower than the 1990 benchmark set by the Kyoto Accord. (The author’s country, the US, is still 5% above that target.) Their carping does not explain how Germany became Europe’s powerhouse and the fourth largest economy in the World. Nor does it do justice to the nation the Renewable Energy Country Attractiveness Index (RECAI) ranks #3 for renewable investments. Energiewende will succeed because it is embraced by the German people.