World’s Richest Green Political Entrepreneurs

Kerry Dolan of Forbes magazine lists the world’s richest green billionaires

Ms. Dolan writes,

Being green and making money don’t always go hand in hand, but these 10 billionaires have tapped global demand for solar and wind power and gotten very rich from it. To make this list, billionaires were measured on the size of their “green” net worth – for the most part, the value of a stake in a publicly traded wind or solar company (two of the 10 have private holdings; I consulted others to come up with an estimate of those values). The four Chinese billionaires in the top ten illustrate that China really has become the hot spot for solar and wind manufacturing. The added boost came from a booming IPO market in the country over the past year.

It’s true being green and making money don’t always go hand in hand, that’s because being green is more about financial benefits brought by political privileges more than about satisfying consumers.

For instance this article from Washington Post says (bold highlights mine)

A 2008 Citigroup analysis found that about one-third of China’s wind power assets were not in use. Many turbines are not connected to the transmission grid. Chinese power companies built wind turbines that they didn’t use as the cheapest way of satisfying — on paper — government requirements to boost renewable energy capacity.

and...

China indeed invests more than any other nation in environmentally friendly energy production: $34 billion in 2009, or twice as much as the United States. Almost all of its investment, however, is spent producing green energy for Western nations that pay heavy subsidies for consumers to use solar panels and wind turbines.

Bottom line: green energy mostly represents political entrepreneurship (euphemism for crony capitalism).