Czech Republic slashes solar support to avert price hike

The Czech Republic on Tuesday slashed financial support for solar power following a boom that has put the country into the top-three solar energy economies in Europe, and is causing big rises in power prices.

The Czech Energy Regulatory Office more than halved the value of feed-in tariffs for solar power units going on line from next year. The new rates will be in the region of 5,500 Czech crowns (€224) per megawatt hour of production, according to a Reuters report.

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