Germany to Speed Solar-Subsidy Cuts to Undercut Boom

Germany’s Environment Ministry and the solar industry agreed to cut subsidies six months earlier than planned to slow growth in the world’s largest market for photovoltaic panels that turn sunlight into power.

The above-market rates paid for solar power will be lowered in July by 3 percent to 15 percent for new installations if more than 3.5 gigawatts are forecast for this year, the ministry said today in Berlin. The estimate will be based on data for projects connected to the distribution grid in March through May.