{"id":13462,"date":"2023-08-14T15:00:06","date_gmt":"2023-08-14T15:00:06","guid":{"rendered":"http:\/\/TheNextWeb=1398997"},"modified":"2023-08-14T15:00:06","modified_gmt":"2023-08-14T15:00:06","slug":"german-chancellor-says-push-for-renewables-will-revive-economy","status":"publish","type":"post","link":"https:\/\/www.londonchiropracter.com\/?p=13462","title":{"rendered":"German chancellor says push for renewables will revive economy"},"content":{"rendered":"\n
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Germany\u2019s Chancellor Olaf Scholz says he believes forthcoming green tech investments will benefit the country\u2019s stagnated economy as a whole. <\/span><\/p>\n

In a \u2018<\/span>summer interview<\/span><\/a>\u2019 with public broadcaster ZDF, the chancellor stated that the government has \u201cmoved at an incredible pace\u201d when it comes to shifting legislation around hydrogen production and other renewable energy sources. <\/span><\/p>\n

Indeed, in June this year, Germany overtook China<\/a> as the second most attractive country for investing in renewables (the US ranks first). The country has set a target for renewable sources to make up as much as 80% of its energy mix by 2030 (currently at 46%). This is nearly double the provisional target of the EU as a whole (42.5%, aiming for 45%, set in March 2023). <\/span><\/p>\n

High energy costs along with a shortage of skilled labour have been major culprits in slowing down the German economy over the past year. In a push for independence from Russian oil and gas, the government also temporarily backtracked on its promise to phase out coal as an energy source. However, the intention still stands to shut down all coal production by 2038 (earlier for certain states), and to reach climate neutrality by 2045. <\/span><\/p>\n

To that effect, Germany has set up the Climate and Transformation Fund, worth \u20ac177.5bn. However, \u20ac47.6bn is set aside to help those struggling due to higher energy prices, and a further \u20ac20bn <\/span>has been reallocated<\/span><\/a> toward attracting international semiconductor manufacturers.  <\/span><\/p>\n

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The government has thus far used that cash to lure companies such as <\/span>Intel<\/span><\/a>, TSMC, and Infineon to build chip plants in Germany, and in particular in what is being dubbed \u201c<\/span>Silicon Saxony<\/span><\/a>.\u201d Meanwhile, Scholz stated in the interview that these companies have not chosen Germany due to the generous state subsidies, but rather \u201cas an economic location.\u201d <\/span><\/p>\n

Germany\u2019s green hydrogen strategy<\/h2>\n

A big chunk of the fund (approx. \u20ac56.3bn) will go to the climate-friendly renovation of buildings, a sector currently holding Germany back when it comes to efforts in energy efficiency. The government has also allocated \u20ac19.9bn toward the decarbonisation of industry and the implementation of the Green Hydrogen Strategy. <\/span><\/p>\n

The aim of the strategy is to have 30GW of electrolyser capacity in Germany by the end of the decade and to make the country \u200b\u200ba leading supplier of hydrogen technologies. It also foresees the construction of an initial \u201ccore\u201d hydrogen network to enter operation by 2032. <\/span><\/p>\n

Scholz\u2019s coalition government adopted the updated strategy to accelerate the domestic hydrogen market in July this year. Energy industry association BDEW welcomed the update. However, it said it lacked a clear alignment between funding mechanisms, general framework conditions, and market design.<\/span><\/p>\n

\u201cEnergy companies are willing to invest in a hydrogen economy, but they need a clear framework, both at national and European level,\u201d BDEW head Kerstin Andrae told <\/span>Clean Energy Wire<\/span><\/a> last month. <\/span><\/p>\n

Meanwhile, climate NGOs are sceptical as the strategy says that state subsidies could potentially go to blue hydrogen (produced from fossil fuels but using carbon capture) projects. <\/span><\/p>\n

Despite the updated strategy, Germany will need to import 70% of its hydrogen demand if it is to succeed in reaching climate neutrality by 2045. With green hydrogen currently accounting for about 1% of global supply, the question is who is going to produce it.<\/p>\n

Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Germany\u2019s Chancellor Olaf Scholz says he believes forthcoming green tech investments will benefit the country\u2019s stagnated economy as a whole. In a \u2018summer interview\u2019 with public broadcaster ZDF, the chancellor stated that…<\/p>\n","protected":false},"author":1,"featured_media":13463,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts\/13462"}],"collection":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13462"}],"version-history":[{"count":0,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts\/13462\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/media\/13463"}],"wp:attachment":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13462"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13462"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13462"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}