Germany says to cut solar incentives earlier than expected

BERLIN Thu Feb 23, 2012 6:52am EST

BERLIN Feb 23 (Reuters) - Germany's government will reduce solar power incentives by between 20 percent and 30 percent from March 9, rather than from April 1, which is what had been expected, a statement released by the Economy and Environment ministries said on Thursday.

It will cut incentives to 19.5 cents per kilowatt hour for small plants, to 16.5 cents for plants up to 1,000 kilowatts and to 13.5 cents for plants of up to 10 megawatts.

The acceleration of cuts in state-mandated photovoltaic incentives follows a record-breaking expansion of solar power in 2011. Germany is the world's leader in solar power with about 25,000 megawatts of installed capacity.

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