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A Fool and Our Money Are Soon Parted

Peter Smith

Apr 01 2024

4 mins

Recall Solyndra, eagerly pushed by President Obama at the time? One of many subsidised green schemes which bit the dust, this one taking US$570 million of taxpayers’ money with it. I couldn’t help thinking of it when Chris Bowen was announcing his new “Solar SunShot” program, which, reportedly, will oversee production subsidies and grants to increase Australia’s role in the global solar manufacturing supply chain. Gotta get in on that global supply chain.

Bowen’s aim is to boost the manufacture of solar panels in Australia. And he’s gifted his endeavour $1 billion of our money to get the ball rolling. In any event, it won’t be enough because China can produce panels much more cheaply than ever they can be produced here. Just to make sure that is the case Bowen will want our panels to be made using “the cheapest form of energy” which, unfortunately, turns out to be the dearest form of energy; namely, renewable energy. To boot, his ministerial colleague Tony…

Peter Smith

Peter Smith

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Peter Smith

Regular contributor

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