Faster Solar Subsidy Cuts In Germany
Environment Minister Norbert Roettgen and Economy Minister Philip Roesler announced plans to cut premium rates for solar power by between 20 and 29 percent starting March 9and continue to decrease them by .15 euro each month beginning in May.
This marks the largest subsidy reduction since 2004 when Germany first implemented a feed-in tariff that charges above market rates for solar power to support the solar industry. The results of issuing the feed-in tariff drastically exceeded targets and sparked a massive unexpected upsurge in solar installations.
Ministers Roettgen and Roesler recently announced the decision to slash subsidies to adjust to plummeting prices of solar panels and unanticipated rapid growth.
The draft agreement proposes reducing annual installations by about 60 to between 2.5 and 3.5 gigawatts for this year and the following, down from record installations of 7.5 gigawatts in 2011.
That’s all for now,
Rapid Solar Progress Leads to Faster Subsidy Cuts In Germany originally appeared in Green Chip Stocks. Green Chip Review is a free 2x-per-week newsletter, is the first advisory to focus exclusively on investments in alternative and renewable energies.
Green Chip Stocks Editors & Contributors Jeff Siegel Jeff Siegel is the managing editor of Green Chip Stocks, an independent investment research service that focuses exclusively on renewable energy and organic and natural food markets. Nick Hodge One of the bright young minds in today's cleantech industry, Nick is putting his knowledge of nascent green markets to use in several ways... Nick is the co-author of a best-selling book and has interviewed dozens of times for TV and Web; his keen insight, uncanny foresight, and global contacts have led to double- and triple-digit wins for his readers, time after time.
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