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Cost explosion: energy transition put to the test
"New study reveals: Energy transition costs over 1.2 trillion euros! Find out why investors are hesitant and how the mega conversion should be financed. All the details here!"
Cost explosion: energy transition put to the test
The energy transition in Germany is making progress, but financing the mega-conversion is facing challenges. According to the “Energy Transition Progress Monitor 2024”, an analysis by EY and the Federal Association of the Energy and Water Industry BDEW, the costs for the years 2023 to 2035 amount to a total of 1.2 trillion euros. Despite the progress in implementing the project, there are still not enough investors to provide the necessary funds.
The analysis, which comprises 76 pages and the F.A.Z. available exclusively, illustrates the enormous financial demands associated with the energy transition. Although the transition to renewable energy is progressing, additional investments are needed to achieve the goals of the energy transition. The sum of over 1.2 trillion euros underlines the importance of sustainable financing and the need to attract investors.
The future development of the energy transition depends largely on the provision of sufficient financial resources. It is crucial that governments, businesses and investors work together to close the financing gap and successfully advance the transition to renewable energy. The analysis data illustrates the complex challenges associated with financing a project as extensive as the energy transition and underlines the need for a holistic approach to ensuring financial viability.