Sticking Solar Where the Sun Doesn’t Shine

The UK finally rethinks its idiotic solar policy. [The Rude Awakening] October 24, 2023 [WEBSITE]( | [UNSUBSCRIBE]( Sticking Solar Where the Sun Doesn’t Shine [Sean Ring] SEAN RING Assuming a person who speaks with a British accent is a genius is a peculiarly American flaw. As someone who lived in the UK for nearly a decade, it’s easy to understand why. British literature, history, and architecture are some of the world’s finest. And everyone went to Oxford or Cambridge, right? Don’t they all know The King? But the British failed to heed G.K. Chesterton’s advice: “Don’t be so open-minded your brains fall out.” And fall out, their brains did. Once Pax Americana took over from Pax Britannica, the Brits became “the Greeks in this American Empire,” as [Macmillan once wrote](. [Dean Acheson famously remarked]( in 1962 that Britain had "lost an empire and failed to find a role.” So, what did Britain do? It became “the bridge” between America and Europe. That entailed being a member of the European Union. That’s no longer the case, thanks to my fellow Brexiteers. But the UK stuck to the European obsession with green energy and renewables, as that’s a global problem that should be handled by a country with global credentials. No matter that the UK is responsible for all of 2% of the world’s carbon emissions. No matter that the UK’s industrial base can fit in my living room. But particularly hilarious is the UK’s obsession with solar power. Stop me if you’ve heard this before… but it rains quite a bit on the sceptered isle. And this is where open-mindedness gets a country in trouble. Anyone with a modicum of common sense would question whether solar was the best option for such a soggy place. This isn’t a rant against clean energy. It’s a demonstration of stupidity and lack of common sense. What Makes Solar Work? Gee, silly! The sun. You need the sun! Yes, of course. And you’d think that would be that. But not for those “open-minded” Brits! I’ll get back to the sun in a moment. Let’s use an extremely sunny country to help us out here. Australia, you’re up! High Solar Radiation Australia is one of the sunniest places on Earth, with much of the country receiving high solar radiation levels. This abundant sunshine makes solar energy a highly viable and efficient renewable source. Vast Open Spaces Australia's vast and sparsely populated regions provide ample space for large-scale solar farms without the land-use conflicts that might arise in more densely populated or industrialized areas. Solar for Remote Areas Solar energy can provide a reliable source of electricity in remote or off-grid areas where traditional electricity infrastructure might be lacking or expensive to install. The UK has none of these things. What about the rest of Europe? [Response Requested]( 1/1000th of an ounce of gold available for As a Rude Awakening reader, you're being offered a 1/1000th of an ounce of gold when you upgrade your account. It will come in the form of a “Gold Back” - a new type of gold currency that’s starting to spread across America ([click here to view](. If you have not responded to this offer yet, and want to know how to claim yours… Please click the link below for details. [Click here to learn how to claim your new Gold Back Currency<]( Thanks! Amber Anderson Customer Service [Click Here To Learn More]( Where Does the Sun Shine? To contrast, let’s see how many hours the sun shines on average per year. Valletta, Malta: 2,957 hours. Faro, Portugal: 3,044 hours. Portimão, Portugal: 3,019 hours. Alicante, Spain: 2,851 hours. Almería, Spain: 2,994 hours. Seville, Spain: 3,279 hours. How about the UK? Edinburgh, Scotland: 1,427 hours. London, England: 1,633 hours. In the UK, the sun shines half the time as in southern Europe - no hyperbole needed. Let’s now see the inherent problem with solar up north. Why is Solar a Problem in the Northern Hemisphere? Here’s something interesting: the angle at which sunlight strikes the earth isn’t constant. In fact, it varies meter by meter. That angle, called the angle of incidence, significantly affects the efficiency of solar panels. Solar panels are most efficient when sunlight strikes them perpendicularly. This is because the amount of energy the solar panel can collect is maximized when sunlight hits the panel’s surface head-on. The optimal angle for a solar panel is typically equal to the latitude of its installed location. However, this angle might be adjusted based on the specifics of the local climate, including cloud cover and the sun's angle throughout the year. And there’s a lot of cloud cover in the UK. Ask anyone who lives there. As for the angle of the sun, this is why houses with south-facing back gardens (backyards in Yankee-speak) are much more expensive in the UK than ones with north-facing gardens. North-facing back gardens don’t get any sun for half the year (most of the autumn and winter). When the angle of incidence is less than optimal, the sunlight has to travel through more atmosphere, which can scatter or absorb some of the sunlight, reducing the amount of energy that reaches the panel. Additionally, when sunlight strikes at an angle, the effective surface area of the panel being hit by sunlight is reduced, reducing the amount of energy the panel can collect. The sun's position in the sky changes with the seasons, which can affect the angle of incidence. Some solar installations have tracking systems that adjust the angle of the solar panels throughout the day and year to maintain an optimal angle of incidence. To be fair, technologies like micro-inverters and power optimizers can help mitigate some of the losses in efficiency. These technologies maximize the output from each solar panel individually, which can be especially beneficial when some panels are shaded or at a less-than-optimal angle. Three other things the UK has against it: Latitude Impact: The further a location is from the equator, the lower the sun will be in the sky, especially during winter. This results in a lower angle of incidence, which can reduce the efficiency of solar panels. The UK is way up on the earth. Seasonal Variations: The sun's angle changes with the seasons. During the summer, the sun is higher in the sky, which can provide a more favorable angle of incidence. Conversely, in the winter, the sun is lower in the sky, which can significantly reduce the efficiency of solar panels. During winter, the sun moves across the sky, barely above the horizon, in the UK. Day Length: Higher latitude locations also experience significant variations in day length throughout the year. The long days of summer can help compensate for the shorter days of winter, although the lower winter sun angle still poses a challenge. On December 22, 2023, the shortest day of the year, in London, the sun will rise at 08:04 and set at 15:53. Barely eight hours of daylight… that’s it. What is the UK Finally Doing? With all that said, the UK is finally coming to its senses. According to Felicity Bradstock of [oilprice.com]( The Conservative government in the U.K. has been accused of backtracking on several of its climate pledges over the last few months and the solar energy industry is the latest to be affected. Prime Minister Rishi Sunak is following in his predecessor’s footsteps by imposing restrictions on new solar energy developments in the U.K., which could lead the country to rely on foreign energy imports to meet its growing demand for renewable energy and ensure its energy security. In September, Sunak confirmed the massive rollback of several of the U.K.’s climate policies during a speech. This came after a government plan on updated climate action was leaked. The Conservative government passed a law in 2019 aimed at achieving net-zero carbon emissions by 2050. Sunak assures the public that this goal has not changed, but the path to achieving it has. My goodness, Chesterton would be relieved. Wrap Up As capitalism’s profits pay for socialism’s follies, there’s a reckoning to be had when the profits run out. The U.K. is to be admired for trying to be clean about its energy. But it must - and will - find a more suitable way of doing so. Not all solutions work for all places. And solar certainly doesn’t work in a place where over 90% of the population has a Vitamin D deficiency. I’m thrilled Sunak told the Greenies to stick solar where the sun doesn’t shine. Have a great day! All the best… [Sean Ring] Sean Ring Editor, Rude Awakening X (formerly Twitter): [@seaniechaos]( In Case You Missed It… Ugly Into New Year Good morning from overcast Asti. I hope you had a restful weekend. I’ll start you off lightly this week with a chart-laden edition of the Rude. I know the Monthly Asset Class Report is only eight days away, but there were some crucial developments as of Friday. Small Caps Break Support First, let’s review our current thesis. We said that the small caps would dictate where the overall market goes. If that’s the case, the overall market will start to head down soon. First, the weekly microcap stocks ETF (IWC) has broken support. [Rude] Going back over the past two years, it’s clear the IWC has already gone below the original support of about 100.35. That was about a month ago. Next, let’s look at the IWM, which is the small-cap index. [Rude] This is the daily chart going back to the Covid breakdown. The longer blue horizontal line is the previous high of 162 before the Covid crash, which turned into a support level after the enormous rally. That’s a huge figure to watch. Interestingly, the shorter blue horizontal line represents the one-year support level of 168.30. The IWM has already fallen through that. So, a breakdown to 162 looks likely. Below 162, and the 145/150 area looks likely. Let’s move to the tech stocks. Are Tech Stocks Rolling Over? This is a daily chart of the QQQ (Nasdaq ETF) year-to-date. [Rude] Friday’s candle came within a gnat’s chuff of breaking support that’s held since June. That doesn’t mean it will break support. But with IWC and IWM heading south, it’s likely. Today’s price action will be interesting. If we do definitively break down, I will look to 336ish first, as that’s the current 200-say moving average, and then 320 after that. Let’s now look at some big tech stock charts to confirm (or deny). [Rude] META’s chart isn’t terrible. But it’s going up at a diminishing rate. Perhaps it won’t roll over, but it’s been flat for a while. [Rude] AAPL looks far worse. Since August, we’ve been in a clear downtrend. The 50-day MA is flat currently but was down for months. The 200-day MA is still slightly positive trend-wise. [Rude] AMZN’s chart is like AAPL’s. But it peaked in September. Again, it hasn’t fallen out of bed yet. And yet, this chart isn’t the healthiest. [Rude] NFLX popped after its recent earnings reveal—the free cash flow stunned investors, so the stock popped $50 last Thursday. Let’s see what it does from here. [Rude] My friend and colleague Dan Amoss has been waiting for NVDA to roll over for ages, but it kept rocketing. He may finally get his wish soon. The top horizontal line is recent support at 407.50. If we break below there, we’re heading to 370 (the middle blue line). And then, there’s that gargantuan gap that needs to be filled. So, a drop below 370, and we head to 317 (the lowest blue line). [pub] GOOG’s chart looks the healthiest of them all. However, it’s started to roll over a bit in the last week or two. All in all, tech stocks aren’t looking all that rosy. But that doesn’t mean they’ll crash. But we may be in for some rough times heading into year-end. [11/1: The Beginning Of A Brand-New Inflation Surge?]( [James Altucher]( Inflation officially peaked in June 2022 at 9.1% -- and ever since, it’s come back down to just 3.2%. But if you think the worst of this crisis is over, think again… Will Nov. 1 mark the beginning of a new – and far more serious – inflation surge? [Click here now to see my urgent warning.]( [Click Here To Learn More]( SPX Looking Weak This is a chart of the SPY ETF (S&P 500) year-to-date. [Rude] Clearly, we’ve been in a downtrend for over two months. We can see the pressure the small caps and tech stocks have had on the overall index. (The big tech stocks account for a quarter of the index now.) For this ETF, the downside target is 392, which is quite far from here. But it’s not all bad. Let’s look at commodities next. Commodities Look Bullish Oil was about to fall off a cliff until Hamas invaded southern Israel. [Rude] But now, oil is looking unabashedly bullish. If the war escalates considerably, we’ll see triple digits. The current price objective is 103. If it calms down, which I think is unlikely, we could break back down to the 60s. My call is to the upside, however. [Rude] This is the daily gold future chart. I’m still a bull and think we’ll hit an all-time high again soon. Depending on the money printing and the warmongering, we may hit $2,300 by the middle of next year. [Rude] And though uranium cooled off in recent weeks, I’m still a big fan. Even the loony left is figuring out that nuclear energy must be a part of any sensible green energy plan. Wrap Up The bad news is that stocks will limp into the year-end. The good news is that some commodities may be poised for massive breakouts. Be nimble and be safe with your capital. This isn’t the 90s. All the best… [Sean Ring] Sean Ring Editor, Rude Awakening X (formerly Twitter): [@seaniechaos]( [Paradigm]( ☰ ⊗ [ARCHIVE]( [ABOUT]( [Contact Us]( © 2023 Paradigm Press, LLC. 808 Saint Paul Street, Baltimore MD 21202. By submitting your email address, you consent to Paradigm Press, LLC. delivering daily email issues and advertisements. To end your Rude Awakening e-mail subscription and associated external offers sent from Rude Awakening, feel free to [click here.]( Please note: the mailbox associated with this email address is not monitored, so do not reply to this message. We welcome comments or suggestions at feedback@rudeawakening.info. This address is for feedback only. 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