Germany's chancellor says the country must curb its renewable energy subsidies so that it can afford to upgrade the power grid and tame rising electricity prices
ermany's chancellor says the country must curb its renewable energy subsidies so that it can afford to upgrade the power grid and tame rising electricity prices.
Angela Merkel said Wednesday that those installing new solar, wind or biomass power sources must "participate more in financing the cost of (electricity) grid expansion" and other necessary upgrades.
The renewable energy boom ' it already produces a quarter of Germany's electricity ' has put the country's energy infrastructure under huge strain because it was built to handle a few large power plants instead of thousands of small renewable sources.
Merkel said the expansion in renewable energy must be brought in line with that of the grid, vowing to overhaul subsidies that total 18 billion euros ($24 billion) annually after elections in September.
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