The Slow Death of the Green Rush

The Death of Solar is Just the Beginning.

We love to live in a world filled with peace, tranquility, and fresh air. But we do not.

In our polluted world, Capitalism still thrives. China’s “cancer villages” bear witness to America’s and global economic boom. While researching for our EV reports in 2021, we examined the environmental impact of mining minerals to manufacture EV batteries. And the severity of toxins required to manufacture the solar panels. Furthermore, lithium-ion batteries and solar panels are not properly disposed of at the end of its life.

In Focus

In this article, we focus on the toxic chemicals involved in manufacturing Solar Panels, the challenges involved in recycling them, the reasons why Solar Panels are NOT green, the number of subsidies driving this “GREEN SCAM,” and a list of 100 solar company bankruptcies over the past four years and upcoming bankruptcies (based on our research).

A Sector Dedicated to Subsidies and Bankruptcies

Subsidies drive the Green Rush, which benefits solar, EVs, technology companies, mining, and manufacturing sectors.

The June 2023 update of the IEA Government Energy Spending Tracker shows that since 2020¹, the US government has allocated over $1.3 trillion to support clean energy investments. This includes direct grants, subsidies for renewable energy producers, and other programs, including the solar sector, in the form of tax credits, research and development, and other investments.

During FY 2016–22, most federal subsidies were for renewable energy producers (primarily biofuels, wind, and solar), low-income households, and energy-efficiency improvements. During FY 2016–22, nearly half (46%) of federal energy subsidies were associated with renewable energy, and 35% were associated with energy end uses. Federal support for renewable energy of all types more than doubled, from $7.4 billion in FY 2016 to $15.6 billion in FY 2022.

Since the start of the global energy crisis, governments have also allocated USD 900 billion to short-term consumer affordability measures, additional to pre-existing support programs and subsidies. Around 30% of this affordability spending has been announced in the early half of 2023.

During FY 2016–22, provisions in the tax code were the largest source of federal financial support. In FY 2016, the Internal Revenue Code (IRC)—with its 31 wide-ranging, energy-specific tax provisions—provided greater financial support to energy than direct expenditures, including R&D expenditures. Total tax expenditures were 70% of the total federal financial support. Since FY 2016, tax expenditures have grown to over 75% of total federal support in recent years. In FY 2021, this support dipped slightly to 65%.²