According to a study, the path to climate neutrality requires immense investments. Based on a consistent and rapid implementation of the energy transition, total investments of around six trillion euros are necessary in Germany by 2045, according to a study by the McKinsey management consultancy. At the same time, reference is made to the opportunities: Successful decarbonisation could secure “substantial parts” of employment and gross domestic product. The “Handelsblatt” had previously reported on the study.
How the climate-friendly restructuring of the economy can succeed and the efforts in the fight against climate change can be increased is also a major topic in the federal election campaign.
The McKinsey study says that the road to climate neutrality in 2045 confronts politics, business and society with the “most profound and complex transformation of our time”. If these run optimally, a socially balanced management of climate change, a positive “business case” for Germany and a leap into a new technological age could be achieved.
Based on the consistent and rapid implementation of the energy transition, additional investments of around one trillion euros in so-called green goods are necessary in Germany by 2045. These are systems, vehicles or heating technology, without investing in research and development.
Replacement investment for an electric car
Another five trillion euros are so-called replacement investments – investments that have to be used to replace existing infrastructure, systems and buildings, for example buying an electric vehicle instead of a vehicle with a combustion engine. As the study continues, the total investment of six trillion euros included public and private investments and corresponds to around 240 billion euros annually through 2045.
According to the study, the need for investment meets a capital market in which sustainable investments are increasing in volume and importance, and new financing models are emerging: “There is therefore basically sufficient capital for rapid decarbonization, often at very attractive conditions.”
Savings potential of e-mobility
The additional investment required is offset by considerable savings potential. Improved thermal insulation and the switch to heat pumps reduced heating costs. In the case of electric cars, the annual operating costs decrease due to the lower costs for electricity instead of fuel and the higher efficiency and lower maintenance costs.
“If we take the optimal path, savings and income over the entire period up to 2045 can offset the costs of decarbonization,” it says. At the same time, Germany could maintain its technology leadership in important export sectors. The decisive factor for employment will be to produce “green” technologies competitively in Germany – such as systems for hydrogen production and conversion, batteries and systems for converting value chains.
At the same time, the study warns: If Germany does not succeed in creating the political, technological and financial framework conditions for the transformation in good time, private households and industry will very likely face greater financial burdens. The increased costs of the energy system and rising CO2 prices are mentioned: “The more time we need for the energy transition in Germany, the more expensive and less socially balanced it can be implemented.” (dpa-AFX / os)
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