Over 300 billion euros in "savings" for Germany - Study: Energy efficiency will reduce costs, accelerate transition
Germany could save more than 300 billion euros by 2035 by implementing the energy transition more efficiently, according to a study by the Boston Consulting Group and the industry association DUI.
Berlin is expected to spend hundreds of billions of euros on the transition to green energy sources in the coming years, with the aim of carbon neutrality by 2045. At the same time, Berlin faces pressure from industry to reduce high energy costs.
The DUI study calculated savings based on current plans, which are expected to cost 1.57 trillion euros over the next 10 years in operating, expanding and maintaining the energy system.
According to the study, currently planned investments in renewable energy, power grids and hydrogen significantly exceed projected demand. This would result in additional avoidable costs. At the same time, planning in many countries relies on expensive solutions such as underground cables instead of overhead lines.
"With better coordination and planning, the energy transition could become more than 20% cheaper over the next 10 years, while simultaneously reducing emissions," the study authors say.
The costs of the German electricity system have increased by around 70% since 2010 and further increases are foreseeable. Gas prices are five times higher and electricity prices up to 2.5 times higher than those of international competitors.
A number of factors contribute to high energy prices in Germany, including the costly expansion of renewable energy and the decline in gas imports from Russia following the war in Ukraine.
To replace these Russian supplies, Germany has increased imports of liquefied natural gas from the United States and other suppliers. But this gas costs many times more than that supplied through pipelines.
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