Germany will need to invest between €239-262 billion (£209-229 billion) to achieve its energy targets according to research from government-owned development bank KfW Bankegruppe. Two years before nuclear generation ends in 2022, Germany aims to have cut greenhouse gas emissions by 40%, doubled renewables to supply 35% of electricity and cut primary energy consumption by 20%.
The scale of the challenge will require help from the public, business and the government, the research says. Among the investment required is up to €10 billion for new gas plants; €144 billion for renewables; and up to €29 billionon 3600 kilometres of high-voltage power lines.
The research makes the point that the investment is important for establishing a self-sustaining energy program for the country, through forging “a clear lead in the development and worldwide commercialisation of innovative environmental and climate-neutral products and technologies”.