The German government scrapped plans to reduce subsidized power prices paid for photovoltaic energy in July because new installations fell short of the level needed to trigger a cut.
About 700 megawatts of solar modules were installed in March through May and more than 875 megawatts would have been necessary to force a reduction, the Federal Network Agency said today in a statement. Under a law passed in January, the forecast for the year based on these three months needed to be more than 3.5 gigawatts to demand the July cut. Rates are still set to be reduced by as much as 24 percent in January 2012.
“The implications are significant,” Jenny Chase, lead solar analyst at Bloomberg New Energy Finance, said in an e- mail. “Chances are that by postponing the one-off cut, the government will ensure another year of 6 gigawatts to 7 gigawatts, overshooting its target again, and the cut will happen in the third quarter instead.”
Germany, the world’s largest solar market, installed 7.4 gigawatts of solar power last year as developers were spurred by its subsidized rate for clean energy known as a feed-in-tariff. The government had planned in July to advance 3 to 15 percent of the cut scheduled January 2012 to prevent a similar boom.
The new installation figures show that there is no room for further cuts to solar subsidies, according to Carsten Koernig, managing director of BSW, the German solar industry trade group. The industry hopes to install 5 gigawatts of solar capacity in Germany this year, he said by phone today.
To contact the reporters on this story: Marc Roca in London at mroca6@bloomberg.net; Stefan Nicola in Berlin at snicola2@bloomberg.net.
To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net.
http://www.bloomberg.com/news/2011-06-16/germany-won-t-cut-subsidies-for-solar-panels-starting-after-july.html
About 700 megawatts of solar modules were installed in March through May and more than 875 megawatts would have been necessary to force a reduction, the Federal Network Agency said today in a statement. Under a law passed in January, the forecast for the year based on these three months needed to be more than 3.5 gigawatts to demand the July cut. Rates are still set to be reduced by as much as 24 percent in January 2012.
“The implications are significant,” Jenny Chase, lead solar analyst at Bloomberg New Energy Finance, said in an e- mail. “Chances are that by postponing the one-off cut, the government will ensure another year of 6 gigawatts to 7 gigawatts, overshooting its target again, and the cut will happen in the third quarter instead.”
Germany, the world’s largest solar market, installed 7.4 gigawatts of solar power last year as developers were spurred by its subsidized rate for clean energy known as a feed-in-tariff. The government had planned in July to advance 3 to 15 percent of the cut scheduled January 2012 to prevent a similar boom.
The new installation figures show that there is no room for further cuts to solar subsidies, according to Carsten Koernig, managing director of BSW, the German solar industry trade group. The industry hopes to install 5 gigawatts of solar capacity in Germany this year, he said by phone today.
To contact the reporters on this story: Marc Roca in London at mroca6@bloomberg.net; Stefan Nicola in Berlin at snicola2@bloomberg.net.
To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net.
http://www.bloomberg.com/news/2011-06-16/germany-won-t-cut-subsidies-for-solar-panels-starting-after-july.html
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