South Korean Ship Sinks; Gold Rises
On Friday, Germany's Bundesrat upper house of parliament said it believes that cuts to solar feed-in tariffs should be no greater than 10%.
The Bundesrat represents the government of the 16 German states, some of which have industries and jobs tied to the solar industry.
The political voice of the Bundesrat represents the political resistance from German states to the solar cuts that already has been voiced loudly by Bavarian representatives of the Christian Socialist Union.
In a recent report saying that the German feed-in tariff cuts would go forward, more or less, as is, FBR Capital Markets indicated that a local CSU leader in Bavaria, where there has been the largest resistance to the FIT changes, was the last wildcard left in the process.
The Bundesrat may represent the 16 German states, and it may want the solar FIT cuts to be no more than 10%, but the more important number 16 is the 16% that Germany plans on cutting FITs for rooftop solar.
What's most important is that the Bundesrat has "no real power to stop or slow down the law" according to a report from Reuters Berlin bureau.
The statement from the Bundesrat may be more of a political grandstanding moment, and an expression of its support for the states against a federal plan, as opposed to an expression of actual power to change the German FIT revisions at this late date.
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