China may have saddled itself with as much as $42 billion in unpaid renewable energy subsidies, but it pales in comparison to the enormous amount of money Europe is pumping into ambitious renewable transition plans even as the continent is ravaged by a global pandemic. Germany recently unveiled a $145-billion (130 billion euro) recovery plan for Europe’s largest and strongest economy. Of this, Bloomberg has calculated that some $48.7 billion (41 billion euro) was allocated for renewable energy and EVs. The government was especially generous with EVs: it increased subsidies for these to the extent that it made some ... (full story)