Germany unlikely to achieve 2030 coal phase-out: Cornwall Insight
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According to a new paper published by Cornwall Insight, Germany is unlikely to achieve its committed to phasing out electricity generation from both nuclear and coal by 2030. The paper titled “Is Germany going green? Charting Germany’s energy transition” notes that the country needs to make comprehensive changes across the energy sector to achieve its energy transition goals on time.
Our latest insight paper is a must-read for anyone interested in gaining insight into the North West Europe power market.
— Cornwall Insight (@CornwallInsight) January 19, 2024
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Germany has pledged to transition away from fossil fuels and achieve climate neutrality by 2045, but several challenges have emerged in meeting these reduction goals. These include geopolitical events like Russia’s invasion of Ukraine, the loss of Russian gas supplies, and increased gas and electricity prices. These have hurt Germany’s economy. Though Germany has implemented new policies to strengthen its competitiveness in the race towards net zero, internal obstacles have been found to impede progress.
Tom Musker, Modelling Manager at Cornwall Insight, told Envirotec Magazine: “Germany is certainly going green, but the question is how fast. The 2030 coal phase-out, once hailed as a bold step, now faces the harsh reality of economic barriers and stalled infrastructure development, casting serious doubt on the country’s ability to hit this target.”
“Germany is still making huge strides towards net zero, and we’ve seen substantial expansions in onshore wind and solar. However, many people, including some in government, are realizing it is going to take a little longer than expected to transition Germany away from its reliance on coal,” he added.
The authors write that Germany’s offshore wind and solar PV successes have shown promise. They add that with new policies, Germany can return on the right track in the coming months and years.
“However, longstanding issues remain unresolved while the macroeconomic environment within Germany remains challenging and could form lasting effects. It is crucial that this does not deter the apparent enthusiasm for net zero in Germany and progress continues to be made, even in spite of short-term difficulties,” concludes the paper.
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