I recently posted about how the Netherlands, the nation known for its iconic windmills, decided to throw in the towel on offshore wind power, as Dutch officials determined the country can no longer afford large scale subsidies for expensive wind turbines that cannot produce electricity at economically competitive prices.
Now there's news that Germany, the country that once prided itself on being the “photovoltaic world champion” is coming to the same conclusion about subsidizing solar energy. The German government is now planning to cut its generous government subsidies for solar energy (more than $130 billion so far) sooner than planned, and to completely phase out public (i.e. "taxpayer") support over the next five years.
A news report from Copenhagen explains what happened:
"One of the world’s biggest green-energy public-policy experiments is coming to a bitter end in Germany, with important lessons for policymakers elsewhere.
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