French body calls for subsidy rethink

France is in danger of missing its 23% renewables target for 2020 unless power users stump up billions of euros, according to the state audit agency.

“The cost of supporting renewable energies is very high, even though it has so far not brought the social and economic benefits expected,” the Cour des Comptes, a quasi-judicial body said.

The agency said the government needs to better target renewable energy subsidies, after the €14.3bn ($19bn) it spent from 2005 to 2011 failed to spur as much economic growth and create as many jobs as hoped.

The agency singled out the solar power sector, which cost France €3.6bn in the six-year period, but now only accounts for 2.7% of electricity production.

It says solar subsidies have also failed to Log in to read complete article.

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