Federal budget 2017: Investment into digitalisation and energy transition
The federal government cabinet has today decided on the draft budget for 2017 – which now has to be approved by parliament. The economy and energy department will be allocated 7.4 billion euros, 3 billion of which will be used in research, development and innovation, the ministry said. In order to implement the energy transition from fossil fuels to renewables, the ministry will use a total of 4 billion euros. This will include 1.1 billion euros to fund the measures under the National Action Plan for Energy Efficiency (NAPE), as well as support for energy research, efficiency, renewable energies and housing insulation. Another 2.9 billion euros will be used in the energy and climate fund which will include support for electric cars.
Read the press release in German and the draft budget here.