The European Commission (EC) is trying to introduce a continent-wide renewable energy power trading scheme, but opposition is arising out of one of its member states, Germany.
An energy policy paper prepared by the Commission said the plan would save “billions of Euros” which would see construction of offshore wind power units in the North Sea and solar power plants in southern Europe. Currently, Germany is a leader in renewable energy, employing around 300,000 people and the government is keen to continue its domestic success. Germany has built the world’s largest installed capacity solar power market and the third largest wind power market behind China and the US.
German consumer association VZBV said solar panels installed in Germany in 2010 will result in additional costs of more than $30 billion during the next 20 years. The EU’s plan to regulate financing body-wide could slash costs considerably, according to the EC.
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