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The Expansion Of Renewable Energies Must Be Financed From The Federal Budget

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The Expansion Of Renewable Energies Must Be Financed From The Federal Budget
The Expansion Of Renewable Energies Must Be Financed From The Federal Budget

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Video: Renewable Energy Project Finance Basics with Josh Pearson ’97 2023, January
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Frankfurt - The conversion of the energy supply in Germany is proving to be a complex joint project that will take decades, the VCI argues. “The state is responsible for managing and financing such tasks for society as a whole. We therefore consider it appropriate that the future costs for the further expansion of wind power and solar systems should come from the federal budget,”said VCI President Kurt Bock. This proposal is supported by all companies in the industry.

According to the VCI proposal, funding for future installed systems that generate electricity from renewable energy sources should be financed from the federal budget from 2019, while existing systems will continue to be financed through the EEG surcharge. The EEG surcharge is currently € 24 billion a year. Since the plants funded on the basis of the EEG until 2018 will receive a guaranteed remuneration for 20 years, the burden of the EEG surcharge would expire in 2038. “The burdens for industry and other electricity consumers from the EEG will no longer increase, but will even decrease in the medium term. This creates greater planning security for our companies when it comes to energy costs,”said Bock.

Picture gallery

Event tip from the editors The Energy Excellence Forum organized by PROCESS on May 10, 2017 in the Höchst industrial park in Frankfurt am Main shows a variety of technical concepts and solutions for increasing energy efficiency. You can read about the topics discussed at last year's Energy Excellence Forum in our article "Saving energy costs - staying competitive".

Relief for electricity customers

According to estimates by the Cologne Institute for Economic Research (IW), financing requirements for new renewable energy systems from the household will increase slowly in the future and amount to between 3.3 and 6 billion euros in 2020. Financing from the budget will in future enable better parliamentary control of costs and, in the future, a decrease in the current high burden on all electricity customers, said the VCI. In addition to a redesign of the financing system, a fundamental EEG reform is also necessary, which reduces the costs to be borne.

The German chemical industry is behind the climate goals and the energy transition, emphasizes the VCI. It was therefore important to make this project economically viable. The VCI sees a great advantage of alternative financing in the fact that the energy turnaround would no longer be financed unilaterally via the electricity price. The EEG surcharge currently accounts for over a fifth of the final price per kilowatt hour. The EEG surcharge not only makes an indispensable consumer good for private households more expensive, but also an essential production factor in industry. As a result, German industry has to bear rising costs that damage its international competitiveness. In spite of the relief rules for particularly energy-intensive companies, the chemical industry alone paid over 1 billion euros in the EEG surcharge on the electricity price last year.

This article was taken over from our sister portal process.

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