Achieving a net zero power system in Germany by 2040
Germany can achieve significant emission reductions and lower electricity bills by phasing out coal in 2030. But, the country must have a clear plan to ramp up renewables and pivot to sustainable fuels to achieve net zero.
Our power system modelling whitepaper explains the comparisons between two plans. The first entails the coal phase-out by 2030 and gas by 2045. The second is a plan where the gas would be out already by 2040.
By following the accelerated plan, Germany can unlock a 34% reduction in the levelised cost of energy. And a 23% reduction in the total emissions, or 562 million tons of carbon dioxide in real terms.
One day, all of our societies will be powered by 100% renewable energy. It is clear that the future of our planet depends on us achieving this feat.Håkan Agnevall, CEO and President, Wärtsilä at Handelsblatt Energy Summit 2022