Germany's parliament approves solar cut compromise

The bundesrat has agreed to cut the tariffs by 13 percent in July and 16 percent from October on.The decision follows yesterday’s agreement on a solar cuts compromise by the German lower house. The upper house voted today.

Due to the steep fall in prices of solar equipment and production, Chancellor Merkel proposed a decrease in feed-in-tariffs for new roof top solar installations. A compromise was needed to resolve the political impasse over this plan.