Recently American Enterprise Institute's Kenneth Green surveyed the literature on economic costs to green subsidies in various European countries. Here's a summary of his findings:
- In Denmark, which made relatively enormous investments in wind assets, consumers pay the highest electricity rates in Europe. Green investments were estimated to have reduced the GDP of this country of 5 million by $270 million.
- In Germany, which invested substantially in solar PV and wind, green infrastructure is associated with a 7% increase in electricity costs. Government green subsidies on a per-worker basis come out to $240,000 each.
- In Italy, the capital investment required for each job created is estimated to be 5-7 times as large as the average Italian job. The government system of green project subsidies is seen as rife with corruption.
- Spain, which has nearly(?) bankrupted itself in an orgy of residential construction and "infrastructure" spending on roads, bullet trains, windmills and solar PV, has managed to spend $750,000 for each incremental "green" job. Analysts calculate that each new green job has cost the rest of the economy 2.2. jobs. Higher electricity costs have hurt manufacturing in particular. Shockingly, corruption has sprung up among all the subsidy programs.