1. RENEWABLE ENERGY:
Solar bubble bursts in Spain amid subsidy cuts, fraud allegations
Only two years ago, Spanish solar energy companies feasting on generous government subsidies expanded at a feverish pace, investing €18 billion (then worth roughly $28 billion) to blanket rooftops and fields with photovoltaic panels. They briefly turned the country into the top solar market in the world. Then came a monumental case of sunburn. The market crashed under a wave of subsidy cuts, fears of possible forced tariff paybacks and allegations of fraud involving energy produced at night being sold as solar power to collect super-premium prices.