Renewable energy is a smart investment

"Billions in investments in the energy sector are an important growth engine for the entire economy"

“2020 was a bad year for the German economy. The fight against the corona pandemic has made it necessary to temporarily close large areas of trade, gastronomy and services, international trade has become more difficult and industrial production and employment have fallen. It is now all the more important to give the economy a boost again with smart investments.

The energy industry plays a major role here. As the energy transition progresses, our industry is becoming an increasingly important growth engine and innovation driver for the entire economy. Flanked by the right framework conditions, the expansion and use of renewable energies can create jobs in the various sectors and strengthen Germany as a business location.

A study by EY on behalf of the BDEW last year showed that the energy transition measures required by 2030 will trigger investments in the economy totaling 320 billion euros. This would not only benefit the energy industry, but also numerous other industries - from the construction industry to mechanical engineering and the service sector. In addition, these investments secure and create around 270,000 jobs.

In the case of investments in the energy industry, a large part of the gross value added remains in the relevant federal state or even the immediate region and provides growth and jobs there. According to the EY analysis, the construction of one gigawatt of wind energy on land secures around 13,500 jobs - a good third of them in the siting regions. In addition, there are long-term effects from the operation and maintenance of the systems and tax revenues that are not taken into account in the analysis.

Investing in the energy turnaround is therefore worthwhile in two ways: Not only do they contribute to a clean energy world and thus the fight against climate change, they also create concrete added value, jobs and economic growth in the region.

In its economic stimulus program in the summer, the federal government already placed a focus on energy and the climate, thus laying the foundations for the economic recovery after the crisis. Now it is a matter of continuing on this path and removing further obstacles to the expansion of renewable energies, electromobility and the ramp-up of hydrogen. This can also give the economy as a whole the economic impetus that is so urgently needed at the moment. "