Industry association study draft says energy transition will benefit German economy

A sharp emissions reduction by 2050 will likely benefit Germany’s economy, according to a study summary draft by the Federation of German Industries (BDI) seen by Clean Energy Wire. An “80 percent climate path is possible with a neutral to positive effect on gross domestic product even in the case of a solo attempt”, the draft says. Reducing emissions by 95 percent is also possible and will likely boost the economy if the energy transition turns into a global phenomenon, according to the calculations. Germany plans to reduce emissions by 80 to 95 percent by 2050 compared to 1990 levels.
Electric vehicles and heat pumps will be key technologies in the energy transition, according to the paper. “The Energiewende creates new business areas in renewables and energy efficiency for German industry, both domestically and internationally.” The study by management advisers Boston Consulting Group and Prognos, which was commissioned by the BDI, is slated to be published in January 2018, according to the summary draft.

See the CLEW factsheet What business thinks of the energy transition for background.