Germany struggles with €20 billion in renewable energy subsidies… economy unexpectedly shrinks in second quarter

Sharing is Caring!

The subsidies are expected to reach around €20 billion this year, which is double the initial estimate. This has raised concerns about the financial sustainability of the subsidy system and its impact on the economy.

Germany’s economy unexpectedly shrink in the second quarter of 2024. This contraction has been attributed to various factors, including high inflation and reduced industrial output.

See also  London’s Gold Crisis: $134 Billion Evacuated as Global Panic Sets In

See also  AMD mega-success in Germany: dominates with 92% market share, leaves Intel with just 8%

Sources:
https://www.energyconnects.com/news/utilities/2024/july/germany-s-ballooning-subsidy-costs-show-challenge-of-going-green/

https://finance.yahoo.com/news/germany-plans-cut-renewable-subsidies-100455879.html

https://www.politico.eu/article/germany-energy-price-subsidy-industry-competition/


173 views