Germany, 5.4 trillion euros for energy transformation/ More efficient approach needed to facilitate businesses and consumers
The Federal Chamber of Industry and Commerce in Germany has warned that the current strategy for energy transformation could cost the country's economy 5.4 trillion euros by 2049. This would create a heavy burden on businesses and households, weakening competitiveness.
Berlin's goal is to achieve 80% renewable energy supply by 2030 and climate neutrality by 2045. But despite the rapid growth of green sources such as wind and solar, electricity prices remain among the highest in Europe.
"With current policies, the energy transition cannot succeed. It risks moving energy-intensive industries abroad, weakening Germany's economic base," the report says.
According to a study conducted by Frontier Economics, annual private investment in the energy, industry, buildings and transport sectors will need to increase from an average of 82 billion euros during 2020–2024 to a figure between 113 and 316 billion euros by 2035.
Energy system costs for the period 2025 to 2049 are projected to be between 4.8 and 5.5 trillion euros, including up to 2.3 trillion euros for imports and 1.2 trillion euros for electricity grid infrastructure.
The study calls for a more cost-effective approach and international coordination through strengthening carbon trading, lighter regulations, and expanding gas networks for hydrogen and decarbonized gas.
It is estimated that such measures could bring savings of up to 910 billion euros by 2050. Total savings could exceed 1 trillion euros if climate neutrality targets are relaxed.
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