German Chancellor Angela Merkel announced on 30 May that Germany, the world's fourth-largest economy and Europe's biggest, would shutter all of its 17 nuclear power plants between 2015 and 2022, an extraordinary commitment, given that they currently produce about 28 percent of the country's electricity.
Underlining the government’s seriousness in changing the country’s energy matrix, Germany's Kreditanstalt fur Wiederaufbau (German Development Bank) is to underwrite renewable energy and energy efficiency investments in Germany with $137.3 billion over the next five years, Germany Trade and Invest reported. Overall, the German government's 6th Energy Research Program has made an extraordinary $274.6 billion available for joint funding initiatives in energy storage research over the next three years.
Full article at: Germany Sets Aside $130 Billion for Renewable Energy
Is Merkel trying to court the Green Party? This is bizarre.
Germany is actually a great candidate for nuclear power; it is geologically and politically stable. I don't understand this drive for "renewable energy". Nuclear energy is arguable more sustainable and more environmentally friendly than almost all alternatives. Making solar panels is not exactly carbon neutral (assuming reducing CO2 is their goal).
funny how germany can barely save the collapse of euro and now it's trying to do renewable energy...
Maybe Germany thinks that if they spend all their money the rest of Europe will stop asking them for handouts.
Highly unlikely that they close the plants when the average knucklehead finds out how much green energy is going to cost. On the plus side, if there's anyone that can make green energy efficient, it will be Germany.
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