In his speech at the World Future Energy Summit today, Dr. Rainer Gegenwart, CEO of Masdar PV, criticized the new proposal German Environment Minister Norbert Röttgen (CDU)to reduce solar feed-in-tariffs.
The announcement by the German Environment Minister Norbert Röttgen (CDU) to introduce a proposal for the reduction of feed-in-tariffs for the solar sector has sent the solar stocks at the German Stock Exchange into a dive. During his speech at the World Future Energy Summit currently being held in Abu Dhabi Dr. Rainer Gegewart, CEO of Masdar PV criticized the plans of the German Federal Government: "Germany has established an excellent environment for solar companies through its feed-in tariffs. Unfortunately, a discussion started in recent days to strongly cut these tariffs even before this young industry reaches grid parity. Should this happen, many solar producers, including Masdar PV, will revise their investment plans in Germany and look for new opportunities abroad, as we need to produce close to our markets. And Germany's market share will decrease strongly in case of strong cuts of subsidies." He adds: "We have seen in Spain what harm wrong national politics and incentives can do to the world market."
From his point of view politicians tend to forget the effects that a reduction of the subsidies might have at this point of time. Gegenwart: "It makes me angry when politicians only look at the cost for subsidies, but do not bear in mind how many jobs were created in the solar industry which are put at risk once again. This might cost even more in the long run." This step could also result in the disappearance of smaller companies. "We as Masdar PV have the opportunity to ship volumes abroad, but many smaller companies that benefited from this growth market do not and will disappear from the market", sais Gegenwart.