Report: Germany invested €26.6 billion in renewable energy projects in 2010

  • Germany invested €26.6 billion (US$34.6 billion) in renewable energy projects in 2010. Image: Geograph.co.uk
    Germany invested €26.6 billion (US$34.6 billion) in renewable energy projects in 2010. Image: Geograph.co.uk

Germany invested €26.6 billion (US$34.6 billion) in renewable energy projects in 2010, according to a new report by Climate Policy Initiative (CPI).

The report, The German Landscape of Climate Finance, provides a review of how German businesses, households and government finance renewable energy and energy efficiency.

Of the €26.6 billion figure, almost €20 billion or 75% was invested in small-scale renewable energy projects including residential solar PV installations. The remaining 25% was used to fund large-scale renewable energy projects.

The renewable energy figure forms part of a larger €37 billion figure quoted in the report which represents the total amount that Germany spent on measures to reduce its impact on climate change in 2010. 

As part of its climate mitigation efforts, Germany also injected €7.2 billion into energy efficiency investments whilst €3.3 billion was allocated to other climate specific investments.

In terms of financial providers, €22 billion was funded by corporate investors across all sectors of the economy, including farmers, energy utilities, and industrial and commercial enterprises. Private households, meanwhile, invested €14 billion.

Furthermore, CPI highlighted that government incentives played a crucial role in private climate investment. According to the report, nearly half of all private climate investments, around €16.5 billion, were supported by low-interest loans from public banks such as KfW and Rentenbank.

"The task of the government is to create the conditions for businesses and households to invest in renewable energy and energy efficiency. And indeed, government-backed low-interest loans and policies such as the feed-in-tariff seem to have played an important role in encouraging these private investments," said Barbara Buchner, Director, CPI Europe.

Ingmar Juergens, Associate Director of CPI Berlin added: "If we want Germany's energy transition to be a success, and if we want other countries to learn from the German experience, we need a better understanding of current finance flows and the impact of policies on encouraging investments."

Newsletter

Preview Latest
Subscribe
We won't share your details - promise!

Publications

  • Photovoltaics International 23rd Edition

    This issue of Photovoltaics International, our 23rd, offers key insights into some of the technologies that are ready to move from lab to fab in support of these goals. ISC Konstanz offer a glimpse of what the low-cost, high-efficiency solar cells of the future might look like. On page 35 the institute’s authors give an overview of what they call Konstanz’ “technology zoo”, encompassing their so-called BiSoN, PELICAN and ZEBRA cell concepts, all of which are aimed at increasing energy yield at the lowest possible cost.

  • Manufacturing The Solar Future: The 2013 Production Annual

    In the ever-changing global solar markets, cost reduction and measures to increase cell efficiencies are the key tools available to PV manufacturers to create new opportunities and drive your business to the next level. Manufacturing the Solar Future 2013 is the third in the Photovoltaics International PV Production Annual series, delivering the next instalment of in-depth technical manufacturing information on PV production processes designed to help you gain the competitive edge.

Partners

Acknowledgements

Solar Media