Spain's Industry Minister Miguel Sebastian buoyed hopes in the country's solar power industry on Monday just days after announcing a dramatic cut in subsidies.
Madrid last week announced plans to cut by almost 90 percent its subsidies for solar photovoltaic (PV) power after a stampede for support left Madrid with a multi-billion euro liability.
But the cuts will not apply to solar thermal, a technology that concentrates the sun's light to produce heat and steam which in turn drives turbines, rather than producing electricity directly in silicon PV panels....MORE
Monday, July 21, 2008
Solar thermal plant buoys Spanish investors