GERMAN FEDERAL GOVERNMENT AGREES TO RENEWABLE ENERGY SLOWDOWN
On June 1, 2016, Chancellor Angela Merkel agreed to the framework for a deal with state premiers on renewable energy law reforms in Germany. The proposed agreement is intended to reduce costs and control the speed of providing green power sources in the future. It would expand onshore wind by an increase of 2.8 gigawatts per year--approximately 1,000 wind turbines. Green subsidies in Germany have led to an expansion of renewable energy, accounting for one-third of Germany's electricity in 2015, particularly wind and solar. But this expansion has also increased electricity costs and strained its grid. Germany's newest reforms are intended to slow renewable growth. Germany has pledged to increase renewables to 40-45% of electricity production by 2025, and these reforms are aimed at ensuring that Germany does not overshoot that target. The proposed agreement will reach the cabinet in the coming weeks, and would come into force at the beginning of 2017. For the full story, see http://uk.reuters.com/article/us-germany-renewables-idUKKCN0YN31H.