Germany’s enormously expensive Energiewende green energy transformation is sputtering. The numbers tell the story.
Despite spending about €150 billion and years of political effort to scrap nuclear and fossil fuels and switch to renewables like wind and solar, Germany is expected to fall short on pretty much all its national and EU emission reduction and clean energy targets for 2020.
High power prices, continued coal dependency and a “poor CO2 emissions record” mean Germany is falling behind other countries in shifting away from fossil fuels, according to McKinsey’s new global Energy Transition Index. In Europe, 11 countries including Sweden, Austria, Denmark, the U.K. and France do better in cutting coal dependency and greening their energy systems.