• 5 mins Iraq Steps In To Offset Falling Venezuela Oil Production
  • 2 hours ConocoPhillips Sets Price Ceiling For New Projects
  • 3 days Shell Oil Trading Head Steps Down After 29 Years
  • 3 days Higher Oil Prices Reduce North American Oil Bankruptcies
  • 3 days Statoil To Boost Exploration Drilling Offshore Norway In 2018
  • 3 days $1.6 Billion Canadian-US Hydropower Project Approved
  • 3 days Venezuela Officially In Default
  • 3 days Iran Prepares To Export LNG To Boost Trade Relations
  • 3 days Keystone Pipeline Leaks 5,000 Barrels Into Farmland
  • 3 days Saudi Oil Minister: Markets Will Not Rebalance By March
  • 4 days Obscure Dutch Firm Wins Venezuelan Oil Block As Debt Tensions Mount
  • 4 days Rosneft Announces Completion Of World’s Longest Well
  • 4 days Ecuador Won’t Ask Exemption From OPEC Oil Production Cuts
  • 4 days Norway’s $1 Trillion Wealth Fund Proposes To Ditch Oil Stocks
  • 4 days Ecuador Seeks To Clear Schlumberger Debt By End-November
  • 4 days Santos Admits It Rejected $7.2B Takeover Bid
  • 4 days U.S. Senate Panel Votes To Open Alaskan Refuge To Drilling
  • 5 days Africa’s Richest Woman Fired From Sonangol
  • 5 days Oil And Gas M&A Deal Appetite Highest Since 2013
  • 5 days Russian Hackers Target British Energy Industry
  • 5 days Venezuela Signs $3.15B Debt Restructuring Deal With Russia
  • 5 days DOJ: Protestors Interfering With Pipeline Construction Will Be Prosecuted
  • 5 days Lower Oil Prices Benefit European Refiners
  • 5 days World’s Biggest Private Equity Firm Raises $1 Billion To Invest In Oil
  • 6 days Oil Prices Tank After API Reports Strong Build In Crude Inventories
  • 6 days Iraq Oil Revenue Not Enough For Sustainable Development
  • 6 days Sudan In Talks With Foreign Oil Firms To Boost Crude Production
  • 6 days Shell: Four Oil Platforms Shut In Gulf Of Mexico After Fire
  • 6 days OPEC To Recruit New Members To Fight Market Imbalance
  • 6 days Green Groups Want Norway’s Arctic Oil Drilling Licenses Canceled
  • 6 days Venezuelan Oil Output Drops To Lowest In 28 Years
  • 7 days Shale Production Rises By 80,000 BPD In Latest EIA Forecasts
  • 7 days GE Considers Selling Baker Hughes Assets
  • 7 days Eni To Address Barents Sea Regulatory Breaches By Dec 11
  • 7 days Saudi Aramco To Invest $300 Billion In Upstream Projects
  • 7 days Aramco To List Shares In Hong Kong ‘For Sure’
  • 7 days BP CEO Sees Venezuela As Oil’s Wildcard
  • 7 days Iran Denies Involvement In Bahrain Oil Pipeline Blast
  • 10 days The Oil Rig Drilling 10 Miles Under The Sea
  • 10 days Baghdad Agrees To Ship Kirkuk Oil To Iran

Germany to End All Solar Subsidies by 2018

Germany to End All Solar Subsidies by 2018

Germany has positioned itself as a world leader in solar energy, with a boom in installations over the past several years due to generous state subsidies and low cost panels imported from China. Solar power was has formed the backbone of Germany’s renewable energy revolution which in which Germany wants to produce 80 percent of its energy from renewable sources by 2050.

It may then seem a bit of surprise to know that Peter Altmaier, the environment minister in Angela Merkel’s Democratic government, has just announced that by 2018 at the latest, all solar subsidies will be stopped.

For a while now Altmaier has fought to secure a solar capacity ceiling above which the government would no longer provide the subsidies that have fuelled development. On Monday he announced that a capacity limit of 52GW had been set, and that they expected to reach this limit by 2018 at the very latest; currently Germany boasts 34GW of solar power capacity.

Altmaier did not support a continuation of the subsidies, because “the development of solar energy ran out of control in the last three years.”

Related article: IBM Develops Solar System to Concentrate the Sun’s Rays 2000 Times

The problem was that the subsidies offered energy producers a generous, guaranteed price for the electricity they generated from solar panels. The farming sector took advantage by installing solar arrays on their land and then using the subsidies as a supplement to their primary income. The government found itself spending huge amounts on solar subsidies when in reality, solar was not the most reliable form of renewable energy available (as the sun does not always shine).

Peter Loescher, the head of Siemens, stated that Berlin “has so far invested 216 billion euros ($278 billion) in renewables and the biggest chunk went to solar, the technology which does least to ensure the power supply.”

Recently German manufacturers have begun to file for insolvency as overcapacity and strong competition from China has squeezed their sales. Germany’s once thriving industry really seems to be coming to an end.

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News