Editions:  Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland
Advertisement

New German coalition aiming to cut solar energy subsidies

Share this article

New German coalition aiming to cut solar energy subsidies
Photo: DPA
14:56 CEST+02:00
German Chancellor Angela Merkel's new centre-right coalition could slash subsidies to the country's already beleaguered solar energy manufacturers, business daily Handelsblatt reported on Tuesday.

Economic policy experts for Merkel's conservative Christian Democrats (CDU) and the free-market Free Democrats (FDP) want to cut support for photovoltaic panels dramatically starting January 1.

Citing a draft section on energy issues of the CDU/FDP coalition agreement being discussed on Tuesday, Handelsblatt reported the two parties wanted to “critically scrutinise” the subsidies in light of sinking production costs.

Last year Germany helped the solar industry with €2.2 billion in aid, but many firms have run into trouble amid increasing competition from cheaper Asian competitors.

Handelsblatt predicted the economic experts would likely tousle with their counterparts hashing out environmental issues for the coalition agreement over the extent of subsidies for renewable energy.

And though photovoltaic manufactures might soon face grim times, Michael Fuchs from the CDU told public broadcaster ARD on Tuesday morning that the incoming coalition could use profits from extending the lifespan of Germany's nuclear power plants to fund research for other forms of renewable energy.

Get notified about breaking news on The Local

Share this article

Advertisement

From our sponsors

The Swedish university tackling the challenges of tomorrow

Ranked among the world's best young universities in the QS Top 50 Under 50, Linköping University (LiU) uses innovative learning techniques that prepare its students to tackle the challenges of tomorrow.

Advertisement
Advertisement
Jobs
Click here to start your job search
Advertisement
Advertisement

Popular articles

Advertisement
Advertisement