Green Planet Energy Warns: Slower Renewables Could Cost Germany €128B, 65K Jobs, More Emissions
Green Planet Energy, a Hamburg-based energy provider with roots in Greenpeace, has commissioned a study revealing significant consequences if the German government reduces its renewable energy expansion targets. The analysis by the Forum Ökologische-Soziale Marktwirtschaft (FÖS) warns of cancelled investments, job losses, and increased emissions.
The study projects that if Federal Minister of Economics Katharina Reiche (CDU) implements her planned reduction, private investments worth around €65 billion could be cancelled. This would lead to about 25% less renewable energy being built by 2030, resulting in around 65,000 fewer jobs. Despite maintaining the 80% renewable electricity target, the absolute volume of renewable energies would shrink due to a lower assumed electricity demand of 600-700 TWh in 2030 instead of 750 TWh.
The energy policy debate is currently focused on electricity consumption growth, which may not increase as rapidly as planned. However, the slower expansion scenario could have severe consequences. Societal costs could reach up to €128 billion by 2030, mainly due to climate costs. It could also result in additional emissions of 73-150 million metric tons of CO2 in the transport sector and 231 million metric tons in the heating sector by 2035. The expansion of photovoltaics and wind power must be synchronized with network expansion to avoid slowing down the energy transition.
A recent tender by the Bundesnetzagentur received 163 bids for 2182 megawatts of combined renewable energy plants with or without storage, with all 33 grants awarded to photovoltaic storage combinations. A slower expansion scenario projects 229 GW of photovoltaics, 37 GW of offshore wind, and 111 GW of onshore wind by 2035, with fewer electric vehicles and heat pumps. A study by Enervis Energy Advisors, commissioned by Greenpeace and Green Planet Energy, examines these consequences on the transport and heat sectors. In contrast, the reference scenario aims for 215 GW of photovoltaics and 145 GW of wind power by 2030, with 15 million electric vehicles and 6 million heat pumps in operation. This could reduce power sector emissions by 76 million metric tons by 2035.
The study highlights the potential impacts of slowed renewable energy expansion in Germany. It warns of significant job losses, increased emissions, and substantial societal costs. As the energy policy debate continues, these findings emphasize the importance of maintaining ambitious renewable energy targets.
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