Germany to Allocate Up to €10 Billion to Subsidize Boiler Ban
- Government plans with €2.5 billion per year until end of 2027
- Agreement comes after months of bickering within the coalition
The German government will phase-out fossil-fuel boilers.
Photographer: Jean-Francois Monier/AFP/Getty ImagesThis article is for subscribers only.
The German government will provide as much as €10 billion ($10.9 billion) through 2027 to cushion the costs of a mandatory phase-out of fossil-fuel boilers, according to people familiar with the planning.
The aid, worth around €2.5 billion per year, is to be financed from Germany’s special climate and transformation fund, said the people, who asked not to be identified discussing confidential information. The fund was set up last year to pay for measures to protect the environment and for the transformation to a cleaner economy.