Germany Added Record Solar Panels in 2012 Even as Subsidies Cut

Bloomberg
Renewable-energy developers in Germany, the world’s biggest solar market, added a record number of panels last year even after subsidies were cut back. Solar installations climbed to 7,634 megawatts, up 2 percent from 7,485 megawatts in 2011, according to figures from the Bundesnetzagentur grid regulator and the Environment Ministry. That was more than double the government’s maximum target of 3,500 megawatts. (...) “More than 80 percent of installations came in the first nine months,” he said today by phone. Environment Minister Peter Altmaier expects developers to add 4,000 megawatts to 4,500 megawatts this year, Strube said.
Chancellor Angela Merkel has cut solar-power subsidies to reduce the burden on consumer electricity bills of Germany’s renewable-energy expansion. Still, the above-market tariffs remain at levels that allow developers to profit, while component prices have continued to drop amid an oversupply.