(Bloomberg) -- The German government presented legislation to bring forward to 2035 a target for the country’s electricity output to be almost completely harvested from renewable sources.
That’s 15 years earlier than the previous goal for so-called greenhouse-gas neutrality “before 2050,” the Economy Ministry said Monday in Berlin. The government also plans to introduce targets for wind and solar auctions, and build 10 gigawatts of offshore wind capacity and 20 gigawatts of solar capacity per year. German will also create a national gas reserve.
A levy to finance the expansion of renewables will be scrapped at the beginning of July as part of the government’s efforts to ease the burden of higher energy prices on consumers.
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