Industry concerned about auction system for solar power
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THE latest mechanism designed to support solar power is proving wildly successful in squeezing down the cost of energy. It's also threatening to destabilise the renewable-energy industry.
From India to Mexico and the United Arab Emirates, authorities are moving away from making fixed subsidy payments for clean energy and towards a system of auctions. The new system forces companies to compete for contracts to sell electricity and has resulted in offers to supply photovoltaic power at record-low rates this year. Bigger markets including Germany and Japan will start the practice next year.
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