Solar Subsidies to Cost Further 18 Billion Euros, Spiegel Says

German subsidies for solar panels installed in the past year will cost consumers 18 billion euros ($23 billion) in 2012, Spiegel reported in a preview of an article to be published tomorrow, citing a report by the Rhein- Westfalen Institute for Economic Research.

This pushes the total level of funding commitments to beyond 100 billion euros, the magazine said, citing the report.

To contact the reporter on this story: Alex Webb in Frankfurt awebb25@bloomberg.net.

To contact the editor responsible for this story: Chad Thomas at cthomas16@bloomberg.net.

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