Articles filed under Taxes & Subsidies from Europe
The Economic Affairs Ministry says consumers cannot manage to pay the cost of the rapidly growing support, ETV reported, and plans to lower them. The development has come at an inopportune time for many wind energy producers who had hoped for a more celebratory tone at the October 20 to 21 Baltic Sea Wind Energy Conference in Tallinn.
The Asociacion Empresarial Eolica (Wind Energy Association) states that if the subsidies were cut, the net result would be a halt in investment and a sharp brake on the new capacity as mapped out in official plans.
The national wind association Asociación Empresarial Eólica (AEE) said the document "presents an even worse scenario than expected". It added: "If passed, it will mark a de facto wind market moratorium." ...The draft cuts eligibility to the production incentive for new capacity, from 20 to 12 years.
Scottishpower is planning to pull the plug on more than 1,000 onshore wind turbines if the Westminster government cuts millions of pounds of subsidy from the industry. The Department of Energy and Climate Change (DECC) has launched a review of taxpayer-funded subsidies that is expected to lead to the payments being switched to giant offshore wind farms.
An investigation by The Sunday Telegraph reveals how generous subsidies - that are added to consumer energy bills - are encouraging hereditary landowners to build turbines up to 410ft tall on their land. With controversy over onshore wind farms growing, the role of the landed establishment in fuelling the 'scramble for wind' will alarm opponents.
Confusion reigns once again over Italy's renewable-energy incentives after two government ministers rushed to deny reports of significant cuts in a just-approved austerity budget.
Germany's nuclear phase-out is creating a new divide within the economy. On the one side are the energy-intensive businesses in the aluminum, cement and paper industries, which will see their electricity bills go up as a result of the nuclear phase-out. And on the other side is the growing renewable energy sector, which is starting to fill its order books as Chancellor Angela Merkel's nuclear turnaround becomes a reality.
But the IPPR, a centre-left think-tank, says that householders, many of whom are already struggling to pay their fuel bills, will also suffer. It estimates that 30,000 to 60,000 more households will be pushed into fuel poverty - defined as spending more than 10 per cent of your disposable income on heat and light.
Ironically, key parts for wind turbines are produced by industries that require a great deal of energy during manufacturing, such as cement-makers and steel-makers. These heavy industries are being increasingly taxed.
Plans to pay communities to erect wind turbines are already in doubt because of increasing chaos caused by the Government's review of green subsidies.
Holland thus becomes the first country to abandon the EU-wide target of producing 20 per cent of its domestic power from renewables. This is a remarkable turnaround from a state that took the Kyoto Agreement seriously and chivvied other EU members into adopting renewable energy strategies. The FT reports that instead of the €4bn annual subsidy, it will be slashed to €1.5bn.
Like solar, wind generation varies greatly depending on weather conditions. Power prices have dropped to negative values already at times of extreme wind supply and low demand. ..."If Germany adds 5 GW of solar this year, we may end up with over 50 GW of volatile wind and solar capacity that can't be controlled according to demand."
Spain's politicians, in something of an emergency move, have just stuck Spanish households and small businesses with a hefty new energy tax to go into effect tomorrow. Yeah, that oughta help matters. This latest in a series of energy tax hikes is intended to help pay down the burst renewabubble, which they also realize they can't just end but must perpetuate.
Spain reduced subsidies paid to solar thermal power plants and some wind farms to limit the cost of electricity for homes and businesses. The government reduced the subsidies earned by wind-power generators by 35 percent until 2013 and eliminated support for solar thermal plants during their first year of operation. Both technologies will face limits on the number of hours they can earn subsidized rates.
A far more significant omission from the media reports, however, was any mention of the colossal subsidies this wind farm will earn. Wind energy is subsidised through the system of Renewables Obligation Certificates (ROCs), unwittingly paid for by all of us through our electricity bills. Our electricity supply companies are obliged to buy offfshore wind energy at three times its normal price, so that each kilowatt hour of electricity receives a 200 per cent subsidy of £100.
Energy secretary Chris Huhne has admitted he is concerned about the financing of major wind farms, as the UK aims to get a third of its energy from renewables.
The reduction coming from a cut in the price paid for clean energy may be as much as 1.3 billion euros, said the person, who asked not to be named because the analysis is confidential. Prime Minister Jose Luis Rodriguez Zapatero is attempting to reduce the 4 billion euro gap between what consumers pay and the price of power in the wholesale market.
Spain's government doesn't rule out a retroactive cut in its generous subsidies for renewable power, an industry ministry spokesman said Wednesday. Shares in renewable energy companies plunged Wednesday amid regulatory concerns after Spanish media speculation about a retroactive subsidy cut.
One of the best-kept secrets of British politics - although it is there for all to see on a Government website - is the cost of what is by far the most expensive piece of legislation ever put through Parliament. Every year between now and 2050, acccording to Ed Miliband's Department for Energy and Climate Change (Decc), the Climate Change Act is to cost us all up to £18.3 billion - £760 for every household in the country - as we reduce our carbon emissions by 80 per cent.
"The more installations you get, the more the subsidies cost, and someone is paying for it," Lekander said. "If you take Denmark, it started to become very expensive for the state budget to pay these feed-in tariffs. You can't hide the fact that it costs money, whether it's the utility, finance ministry or the customer paying it. It will be interesting to see if wind power subsidies will really manage to be unchanged in Spain despite the problems there with the budget deficit."