Source: Energy & Management Powernews, August 22, 2022
In order to achieve climate neutrality of Bavaria, additional investments in the triple-digit billion range are necessary according to a study. The economy sees the policy in the duty.
The goal is clear, the white-blue way there as is known not quite, and with the financing there is apparently still a big hole: to achieve climate neutrality in the Free State by 2040 are "significant additional investments for technical climate protection measures, including investments in equipment, vehicles, facilities and additional infrastructure, to be expected," as the Association of Bavarian Business (VBW) puts it. The background to this is a study commissioned by the organization. The Prognos Institute's expertise, which is now available, estimates the necessary expenditure at 167 billion euros.
"In order to realize the necessary investment projects, rapid and bold political decisions must be made for all sectors," said VBW CEO Bertram Brossardt when the paper was published. Climate protection, he said, must be understood as an economic stimulus program that effectively incentivizes the switch to climate-friendly technologies and prevents excessive burdens on companies and the population. "So we are talking about paying off investments and not costs," Brossardt said.
The Prognos analysis is based on the "Climate Paths 2.0" study by the Federation of German Industries (BDI). The authors estimate what investments will have to be made by companies and consumers in Bavaria by 2030 if climate neutrality is to be achieved by 2040. At the federal level - with a target path aligned to 2045 - additional investments of euro 860 billion are to be expected, they say. Bavaria's share of climate protection-related additional investment amounts to 19.4%.
88 billion euros in the energy industry
"By far the largest investment contribution, with a share of 52.5 percent, is to be shouldered by the energy industry," VBW said. The study puts the investment requirement at 87.6 billion euros. In second place comes the transformation of transport, which will require 36.8 billion euros. For the energy turnaround in trade, commerce, services (GHD) and private households (PHH), 35.1 billion euros are needed. In addition, there are 7.1 billion euros for the climate neutrality of Bavarian industry.
Especially in the infrastructure would have to be invested massively, said Brossardt. "The current energy crisis once again clearly demonstrates to us that we need to move forward as quickly as possible with the expansion of electricity grids and renewable energies. An efficient hydrogen infrastructure must be planned today." In order for the innovative power of companies to continue to develop and the transformation in Bavaria to succeed, "we need the right framework conditions, in particular a significant acceleration of planning and approval procedures."
The Study "Estimation of the investments of the 'Climate Paths 2.0' (BDI 2021) for Bavaria" is available as a free download from the Bavarian Business Association.
Author: Manfred Fischer
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