11 Oct '12, 6pm

Germany Plans Cap on Renewables, Energy Switch to Save $736 Billion by 2050

Germany Plans Cap on Renewables, Energy Switch to Save $736 Billion by 2050

The state would end payments to wind and biomass as limits are reached, Environment Minister Peter Altmaier said of plans that lawmakers will debate next year, without giving the limits. “The energy switch is the biggest economic project of the post-World War II era,” Altmaier, who is responsible for the legislation, told reporters today in Berlin. The government will “fundamentally” reform the system to make renewables compete at market prices “as quickly as possible,” he said. The proposals mark the most sweeping changes to Germany’s support mechanisms for renewables since the country adopted feed-in tariffs in 2004. The guarantees of above-market prices for clean energy in Germany have helped make the country the biggest market for solar and been emulated around the world, spurring renewables booms in nations including Italy and Spain. Capping subsidies will create a ru...

Full article: http://www.renewableenergyworld.com/rea/news/article/2012...

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