Germany’s Upper House Seeks To Scale Back Solar Incentive Cuts

Germany's upper house of parliament has voted to reduce the severity of the reductions planned for solar installations in the country.

Under the chamber's new plan, subsidies for rooftop and ground-mounted installations would be cut only up to 10%, Bloomberg reports. The existing proposal, supported by German Chancellor Angela Merkel's coalition, would reduce solar subsidies between 11% and 16%.

The bill, as approved by the upper house of parliament, will now be sent to a committee comprising both houses. However, Merkel's coalition holds the power to reject changes with a second vote in the lower house.

The subsidy reductions are due to take effect July 1.

SOURCE: Bloomberg

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