BP Abandons Solar Power

It’s Not Me, It’s You

Companies do not often abandon a line of business after FORTY years of investment, but BP is doing just that:

“This decision was very difficult given the company’s nearly 40-year history in solar energy,” [BP spokesman Daren Beaudo] said. “However, the major global solar markets continue to experience tremendous challenges, which ultimately led the company to make this decision.”

Matt Patterson, editor of Green Watch at the Capital Research Center and the current Warren Brookes fellow at the Competitive Enterprise Institute, is quoted thusly:

“From a commercial perspective, solar power has been a total failure, both too expensive and too impractical to appeal to a wide market. In fact, the only reason a solar panel industry exists at all is because governments mandate their use and subsidize their production. And even then, solar cannot begin to compete in an open marketplace against the reliability and low cost of fossil fuels.”

Solar energy, like electric cars, is a government-funded plaything for the rich and the green-obsessed.

via BP Gives Up on Solar Power | Heartlander Magazine.

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