Wind and solar energy stocks on their way to hit rock bottom

                               Vestas wind turbine crashing in storm

There are clear signs now that wind and solar energy stocks are heading towards rock bottom, in spite of huge goverment subsidies to wind and solar power parks:

Clean energy stocks are approaching a floor after European austerity measures and cheap U.S. natural- gas pushed wind and solar companies lower, Impax Asset Management Ltd. said.


Vestas Wind Systems A/S, the world’s biggest wind turbine maker, this week fell to its lowest level in more than five years and Trina Solar Ltd. (TSL), the No. 4 solar cell maker, is down 36 percent this year.

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Another sign of the decline of wind energy:

German wind energy developer PNE Wind has announced turnover of €16.6m for the first half of the year, a huge decrease from the same period in 2010 when turnover stood at €41.1m. EBIT decreased to €0.9m from the €8.2m level it stood at in the first six months of last year. The company attributed falling revenue to a decision to focus on offshore wind projects, which have a higher investment and construction time than onshore developments.

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The prospect of loosing subsidies is already impacting wind and solar investments:

Cleantech venture-capital investments appears to be waning, despite increased mergers and acquisitions among green tech firms, a new report from Peachtree Capital Advisers says. The midyear report by the New York-based investment bank said economic uncertainty and the prospect of losing federal subsidies – especially as funds from the 2009 stimulus expire – have discouraged venture capitalists from green technology investments.


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The hopeless UK climate change secretary, warmist Chris Huhne, still refuses to see where the wind is blowing. He lives in his own cosy world of government subsidies and would like to see the whole of the UK covered with those unprofitable, environmentally and aesthetically horrible monsters:

Energy and climate change secretary Chris Huhne, on a visit yesterday to the Vestas wind turbine facility in the Isle of Wight, spoke enthusiastically of the UK leading the world in the area, with some 1.5GW of wind capacity already installed.
"Last week’s new European Wind Energy Association numbers found almost all turbines installed in the first half of this year were in the UK: 101 off the UK, compared to just 7 in the rest of Europe," he said.

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No wonder serious investors in other countries are staying away from this sad reality, created by Chris Huhne and David Cameron:

The report, entitled The Green Mirage, exposes the colossal scale of public subsidies for renewable energy and warns that by propping up many of these schemes, ministers have simply ‘picked losers’ and prevented the development of more cost-effective ways of generating energy.It says the UK’s £5billion subsidy to renewable electricity generators in the eight years to 2010 was the equivalent of paying every worker in the wind industry £230,000. Each job in the wind industry was subsidised to the tune of £54,000 last year.

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