Dusseldorf Despite all the prophecies of doom and some political resistance: countries around the world are investing massively in the conversion of their energy production. Expenditure on the expansion of wind power and photovoltaics has quintupled over the past 15 years.
At the top is China of all places – the country that blows the most climate-damaging CO2 emissions into the air. One reason: Renewable energies now provide cheaper electricity than coal and gas.
Germany is doing quite well when it comes to spending on the energy transition in relation to gross domestic product. However, the Netherlands are unmatched: the country on the North Sea is already feeling the effects of climate change.
There are now solid economic reasons for investing in the expansion of solar and wind energy. Generating electricity by burning coal and gas is now significantly more expensive.
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More: There is a risk of green inflation