We use cookies
To help provide you with a good experience on our website. By continuing to browse the website, you are agreeing to our use of cookies.

Germany to spend billions helping industry with energy transition

GO NET ZERO ENERGY

Germany to spend billions helping industry with energy transition

Germany plans to provide its industry with a double-digit billion-euro amount to support the transition towards cleaner production in industry, the economy ministry said on Thursday.

Source: Reuters

Under the mechanism, called 'carbon contracts for difference', which aim to shift the energy source used in energy-intensive industries from fossil sources to renewables and hydrogen, companies can qualify for subsidies if they reduce carbon emissions in their production.

Large, energy-intensive companies, medium-sized enterprises and small businesses are to benefit from the subsidies, the economy ministry said.

A tiered model to make low-cost electricity produced from renewable energy sources available to industry was in the works, the statement said.

To help private consumers master the switch to renewable energies, the ministry plans to establish a billion-euro programme that will provide support for low and medium income households.

Relevant news

GO NET ZERO ENERGY
Global solar investment broke record to reach US$239 billion in H1 2023
Global investment in solar in the first half of 2023 increased by 43% year-on-year.
GO DIGITAL ENERGY
SAP supports utilities across the EU to enable the energy transition
The need for decarbonisation has been the driving force behind policies like the European Green Deal.
GO NET ZERO ENERGY
EU, Norway form a Green Alliance to facilitate the energy transition
The European Union and Norway had agreed to combat climate change.
GO NET ZERO ENERGY
Spain to invest $2.3 billion in S. African energy transition
Spain is providing fund South Africa’s energy transition and water needs.
GO NET ZERO ENERGY
Global energy transition investments must quadruple to $5T to reach climate targets: IRENA
Renewable deployments worldwide will have to grow from 3,000 GW to 10,000 GW by 2030.
GO CIRCULAR
Port businesses are preparing and successfully investing in a future-proof, clean port.
Port of Rotterdam is working full steam ahead towards a sustainable port.