Jan. 10 (Bloomberg) -- German subsidies for wind, solar and biomass energy tallied up to 120.4 billion euros ($164 billion) since 2002, about 86 times the cost of the latest coal-fired plant to be completed in Europe’s biggest clean-power market.
The total is for assistance to operators through last year, the government said in a reply to queries from the Green Party. Germany paid a record 22.9 billion euros last year, up from 2.2 billion euros in 2002. Trianel GmbH says its 752-megawatt Luenen coal power plant that started last month cost 1.4 billion euros.
Chancellor Angela Merkel plans to cut the cost of her plan to shutter Germany’s nuclear reactors and move Europe’s biggest economy toward renewables. She says the priority for her third term will be modernizing Germany’s clean-energy subsidies after rising wind and solar costs sent consumer power bills soaring.
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