Thursday, February 9, 2012

Germany Sets New Renewable Energy Record

Germany Sets New Renewable Energy Record:
Producing 20.8 percent of it's energy from renewables. And Germany is not a particularly sunny or windy place.
"So how Germany did it? In one word: Policy. In a report published earlier this year, Deutsche Bank provided some of the ingredients of the German successful recipe: Setting ambitious but attainable binding renewable energy and climate targets, integrating these targets into energy policies and linking the targets to comprehensive energy policy targets, creating incentives (feed-in tariffs for example) to minimize investor risks and drive costs down, and balancing constructive regulatory policy with flexibility by introducing policy incentives that can also be adjusted to reflect changing market conditions (for example, reducing solar feed-in tariff when solar costs are going down). It’s not surprising that the verdict of Deutsche Bank was: “We believe that Germany exhibits best in class climate and renewable energy policy structures.”

Germany’s push for renewable energy was motivated by a desire among politicians to act against climate change and reduce the country’s carbon footprint. Then, the growth of the renewable sector brought other incentives like energy security and job creation. Renewable energy garnered widespread political and public support."