Sumi Somaskanda Special, USA Today
For British entrepreneur Timothy Porter and millions of other Europeans who get generous financial incentives for solar panels, the sun has been very lucrative. Not only does the government pay Porter for the solar energy he produces, at far higher than the market rate for electricity, but he can also use what he generates for himself. “It’s fantastic,” he said, admiring the solar panel he installed on the roof of his home in the English West Midlands two years ago.
Such subsidies are widespread in Europe, where policymakers say that energy from wind and the sun will stave off global temperature increases they blame on the use of fossil fuels such as oil and coal. But Europe’s debt crisis has many countries worrying more about their bottom lines than climate. Read article