Germany’s energy sector could add 117 GW of renewables and 17 GW of combined heat and power (CHP) capacity by investing EUR 322bn in the next decade, lobby group BDEW said.
But first the government has to cut regulations, the energy lobby group said.
The additional capacity would help the country meet climate targets and boost its post-pandemic economy, the group said. It noted that the government is set miss its targets without a rise in current green investment.
“We want to continue to invest in a safe and increasingly sustainable energy world. To this end, politics must provide impetus and remove obstacles,” said BDEW president Marie-Luise Wolff at the presentation of the lobby’s position paper “Economic impetus from the energy industry”.
Changes in the power mix, expansion of power and gas networks, development of public charging infrastructure and the ramp-up of the hydrogen economy could trigger investment, BDEW said.
The additional 117 GW of green energy capacity, increased CHP targets and freezing the renewable energy levy at EUR 50/MWh would also count toward the spending.
“By 2030, Germany wants to cover 65% of its electricity consumption from renewables. According to BDEW calculations, at least 117 GW of new renewable energies have to be built by 2030,” the lobby group said.
The government needs to set a clear path for renewables expansion to reassure potential investors, the group said. It must also swiftly remove regulatory hurdles for onshore wind power and solar expansion.
Current government targets imply a capacity growth of around 82 GW by 2030.