Spain's Ambitious Solar Program Facing Budget Cuts

Spain has long been heralded as a leader in solar power generation. The country, which covered 2.8% of its electricity demand in 2009 with solar energy, is the fourth largest manufacturer of solar power technology in the world. This success can largely be attributed to a 2007 law that offered 25 years of above-market price guarantees to solar developers. Now that Spain is teetering on the brink of bankruptcy, the government may abolish that law--potentially bringing down the country's solar...