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Costly 'green' energy

, September 26, 2013

File photo of wind turbines of the high-sea wind farm BARD Offshore 1, standing 100 km (62 miles) north-west of the German island of Borkum in the North sea. Angela Merkel's best hope of saving her bold energy revolution may lie in a coalition with the centre-left Social Democrats (SPD), who could agree to modest cuts to costly incentives for green power which are, paradoxically, driving up energy prices. The German chancellor's experiment to wean Europe's biggest economy off nuclear and fossil fuels and push it into renewables is at risk because generous subsidies have proved so popular with investors in green power that the country is straining under the cost. - Reuters/Fabian Bimmer




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