German feed-in tariff cut will be 16-17% - confirmed
After a fair amount of digging and the much needed help of our German correspondent we can now confirm that the reports of a 16-17% cut in feed-in tariff rate for Germany were true, and the cuts are to go ahead from April 1, 2010. Several German news sources have reported that this figure is in fact authentic, not least of which the German Financial Times, Sueddeutsche . The Wall Street Journal reported that the maximum 17% cut is indeed on the cards, quoting today Economics Minister Rainer Bruederle as saying, "the German government could realistically cut between 16% and 17% of the subsidies it gives to solar-power providers." Another source, German newspaper Top Agar online made it clear that these huge cuts are in response to over-generous funding over recent years. "The current rate of support not only harms the consumer durable with extra electricity costs, it also impedes the technological breakthrough", said the vice-chairman of the CDU / CSU Parliamentar...