Spain Levies Consumption Tax on Sunlight
|November 8, 2013||Posted by Staff under Politics|
This 2013 excerpt of Global Economic Analysis, July 26, is by Mike “Mish” Shedlock.
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.
The tax, labeled a “backup toll” is high enough to ensure that it will be cheaper to keep buying energy from current providers than use solar power systems on their rooftops.
If you get caught collecting photons of sunlight for your own use, you can be fined as much as 30 million euros.
Before the decree it took 12 years to recover the investment in a residential installation of 2.4 kilowatts of power. Following the decree, it will take an additional 23 years.