Germany has done a U-turn on plans to scrap wind energy subsidies, now planning to make cuts later than originally announced. The change of direction comes as part of aims to boost investment in the sector. Talks amongst the German government, Thursday, have culminated in news that the annual reduction in feed-in tariffs (FIT) will remain at its current one per cent year-on-year reduction rate as of 2012 instead of opting for a move to two per cent.
Plans for cuts to solar subsidies are also underway, in line with plans for both renewable energy industries to stand competitively once the country totally shuts down its nuclear facilities in 2022.
