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Time of the essence for Germany's energy switch: Merkel

Thu, 03/07/2013 - 12:25pm
Reuters

BERLIN (Reuters) - German Chancellor Angela Merkel warned on Thursday that time was of the essence if Germany was to shift to renewable energy and power intensive industries should expect cuts to their benefits and exemptions.

Merkel's ambitious switch to green energy from nuclear, known as the 'Energiewende,' is seen as a key domestic policy of her second term. Renewables are expected to account for 35 percent of German power in 2020 and 80 percent by 2050.

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