2021-06-07 11:50:00
GERMANY'S CLIMATE INVESTMENT $9.6 BLN
PLATTS- 04 Jun 2021 - Germany's government is considering lifting 2030 targets for solar and onshore wind by 50 GW and 24 GW respectively, according to a leaked document seen by S&P Global Platts June 4.
The "climate action plan 2022" draft sets Germany's target for solar at 150 GW and onshore wind at 95 GW.
The 30-page document published online by Klimareporter.de lists some Eur8 billion ($9.6 billion) of urgent climate action measures.
The measures starting 2022 were needed to deliver on a new 2030 climate law draft, it said.
The environment ministry, which drafted the climate law, was not immediately able to comment when contacted by Platts.
According to German news agency DPA, the plan was developed by the finance ministry and is currently in consultation between ministries with a final version to be approved June 23.
As the 2022 budget would not be approved before the Sept. 26 election, the decision would have little direct impact.
Most measures would also require changes to specific laws.
For 2022, the coalition already doubled planned tender volumes to 10 GW but further delayed a decision on 2030 targets.
The EEG 2021 only approved late last year set a 100 GW solar and 71 GW onshore as well as 20 GW offshore wind target as it aims for a 65% share of renewables in the 2030 power mix.
Ministers conceded that this was not enough with regard to the higher EU target of a 55% cut in CO2 emissions and planned to lift targets in Q1 2021.
A court ruling in late April and pressure from the Green Party, which temporarily topped opinion polls, triggered a rush to action by the current coalition.
The new draft law tightens sector-specific CO2 targets this decade toward a 65% cut by 2030 and adds annual targets toward 88% by 2040.
The law also brings forward to 2045 the net-zero target.
The constitutional court ruling required a more balanced approach to emissions cuts from the government to ease the burden on future generations.
Utility association BDEW on May 27 called for a 150 GW solar capacity target by 2030.
S&P Global Platts Analytics said in a report May 26 that the new 2030 climate law would leave little space for coal emissions, with the power sector's 2030 target slashed by 38% to 108 million mt.
"Given our assumptions on power demand [641 TWh] and our projected 70% share of renewable output, fossil-fuel generation will have to fall to around 192 TWh in 2030," Platts Analytics' Sabrina Kernbichler said.
Most of this would come from gas generation with Platts Analytics projecting average 14 GW output for gas in 2030, but only 1.6 GW for lignite and 2.5 GW for hard coal.
Last year, renewables covered a record 46% of demand in Europe's biggest economy. Gas at 16% moved above lignite for the first time, while hard coal fell to 8%, BDEW data show.
Germany currently has 120 GW of installed wind and solar capacity with solar growing at the fastest since 2012 moving ahead of onshore wind with 56 GW installed, the latest monthly data show.
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Earlier:
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The German federal government published its updated Climate Protection Act on May 12, 2021.
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2021, May, 12, 12:40:00
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Germany will now aim for a 65% cut in carbon emissions by 2030 and net zero by 2045, up from a previous 55% for 2030 and net zero by 2050.
2021, May, 7, 14:40:00
GERMANY REDUCE EMISSIONS
According to preliminary data released by the Federal Environment Agency (UBA), Germany’s greenhouse gas (GHG) emissions decreased by 8.7% in 2020 to 739 MtCO2eq, corresponding to a 40.8% fall since 1990.
2021, March, 17, 14:15:00
GERMANY'S CO2 EMISSIONS DOWN
"Germany has achieved its 2020 climate target," Economy and Energy Minister Peter Altmaier said. Compared to 1990, 2020 emissions dropped 40.8%.
2021, March, 9, 12:40:00
GERMANY NUCLEAR COMPENSATION
In August 2011, the 13th amendment of the Nuclear Power Act came into effect, which underlined the political will to phase out nuclear power in Germany.
