Spain privatizes the sun by levying consumption tax on sunlight gatherersSubmitted by Bob-45 on Thu, 08/01/2013 - 00:37
MISH'S Global Economic Trend Analysis
Fri, 26 Jul 2013 03:03 CDT
Proving that idiocy truly has no bounds, Spain issued a "royal decree" taxing sunlight gatherers. The state threatens fines as much as 30 million euros for those who illegally gather sunlight without paying a tax.
The tax is just enough to make sure that homeowners cannot gather and store solar energy cheaper than state-sponsored providers.
Via Mish-modified Google Translate from Energias Renovables, please consider Photovoltaic Sector, Stunned
The Secretary of State for Energy, Alberto Nadal, signed a draft royal decree in which consumption taxes are levied on those who want to start solar power systems on their rooftops. The tax, labeled a "backup toll" is high enough to ensure that it will be cheaper to keep buying energy from current providers.