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After wind energy sent power bills soaring, Germany’s cuts to clean energy subsidies has turbine makers worried

Stefan Nicola — Bloomberg — January 20, 2014

Germany’s clean-energy industry said government plans to accelerate cuts in aid to developers of wind and solar power plants threaten to derail the country’s transition to renewable sources from nuclear energy.

Wind-turbine maker Nordex SE (NDX1), which has benefited from booming installations on land, fell to its lowest in two weeks in Frankfurt trading today after weekend reports that Economy and Energy Minister Sigmar Gabriel aims to rein in subsidies.

Proposals to reduce aid for onshore wind units as much as 20 percent in 2015 from 2013 levels are “counterproductive,” the BWE wind lobby said. Cuts that are too harsh “threaten the wind energy expansion all over Germany,” Sylvia Pilarsky-Grosch, the BWE’s head, said in an e-mailed statement. “The energy switch threatens to be derailed.”

Chancellor Angela Merkel’s third-term government intends to cut the cost of her plan to shutter Germany’s nuclear plants and move Europe’s biggest economy toward renewables. She says her top priority after her government took office last month is to modernize the system of clean-energy aid after rising wind and solar costs sent consumer power bills soaring.    Continue reading here……

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