(OilPrice) For years Europe has been at the forefront of the renewable energy revolution, promoting and establishing global rules in this sector. There are signs however that this trend might change.
The economic crisis has forced many European countries to reassess their clean energy policies, heavily reliant on substantial, and often irrational subsidies, that have started to severely bite into the seriously strained European budgets. So far, Spain, the Czech Republic and Bulgaria have decided to retroactively tax renewable energy operators.
It is widely expected that Germany will follow the same path following this month’s general elections. The EU’s energy commissioner Günther Oettinger has already advised Germany against the move, as it might create great uncertainties in the market and make investors wary of further investments in the clean energy sector.