As we have covered in prior blog posts, the generation purchased with this level of investment, while substantial, is insufficient to have a meaningful effect on CO2 emissions before 2050. This stagnant level of investment despite falling costs of generation clearly demonstrates that there is no market force driving growing investment and the market is still propped up by subsidies. Subsidies are fickle and each major geography has waxed and waned with markets declining and growing in a way that has coincidentally maintained a fairly constant level of investment worldwide.
The hard truth that current wind and solar are not succeeding and will not succeed is still in complete denial from academics and environmentalists whose overwhelming desire for a solution blinds them to the plain evidence of failure that this stagnant investment illustrates.
By Edmund Kelly