The Netherlands Cuts Renewable Energy Subsidies, Looks to Nuclear Power
In an incredible change of face, The Netherlands is planning to slash its renewable energy targets as well as reduce its solar and wind subsidies.
According to the Financial Times Deutschland, the government states the subsidies are unaffordable. The plan is for the subsidies to be cut from €4 billion annually, to €1.5 billion.
Previously a huge proponent of renewable energy development, Holland becomes the first European Union country to abandon the mandated target of producing 20% of its domestic power from renewable sources by 2020.
Beyond reducing its renewable energy funding, the country's morphing energy policy looks as though it will include more nuclear power in the future. Currently, home to one nuclear power plant, the government has recently eliminated its opposition to nuclear energy, and given its approval for the first new nuclear power plant in almost 40 years.
Read the full story at The Register: Holland slashes carbon targets, shuns wind for nuclear
Nathanael Baker is the Managing Editor of EnergyBoom. He has researched and reported on the issues of renewable energy, sustainability, and climate change for over two years. He has provided research to the New York Times and The Economist, as well as being published on different media outlets including, The Energy Collective.
Energy Boom content is for informational purposes only and is not intended to be advice regarding the investment merits of, or a recommendation regarding the purchase or sale of, any security identified on, or linked through, this site.
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