Aid for solar, wind industries sought by German economy minister

by Ajay Rajguru

After talks with industry representatives, Economics Minister Robert Habeck said in Berlin that Germany should increase state support for wind turbines and solar plants. “We have to strengthen the production capacities for renewable energies and electricity grids in Germany and Europe,” said Habeck, who is a member of the country’s main environmental party, the Greens, dpa reported.

Aid for solar, wind industries sought by German economy ministerIn order to achieve climate goals and become less dependent on fossil fuels, the government plans to increase renewable energies in the coming years. Nevertheless, solar plant production has increasingly shifted to China, while the German solar industry has declined.

The strategy also favors EU tax credits modeled after the US model or alternative instruments corresponding to the US model. Habeck said that tax write-offs would be possible at EU level. In addition, he has shown interest in a proposal by the EU Commission regarding tax breaks for companies investing in climate-friendly technologies.

The US Inflation Reduction Act led to significant reductions in operating costs not only in the photovoltaic industry but also in other sectors and promoted manufacturing investments. During the first half of 2023, Habeck plans to present proposals for a state-subsidized industrial electricity price, addressing the complaints of domestic industries about high energy costs.

Related Posts

© 2021 Kenya Dawn | All Rights Reserved