The fall in prices is over, the energy transition is becoming more expensive

Dusseldorf For ten years, the cost of renewable energy has known only one way – down. The unstoppable fall in prices even made wind and solar the cheapest sources of electricity in large parts of the world. Last year, however, the prices for solar modules, wind turbines and storage systems rose again for the first time. Photovoltaic modules now cost more than twice as much, and the prices of wind turbines have climbed by 13 percent so far, and the trend is rising.

The global energy transition will thus be significantly more expensive than already feared. Even before the price rally, experts were counting on costs of up to six trillion euros in Germany alone to make the economy climate-neutral by 2045.

However, advances in efficiency can no longer compensate for the rapidly increasing raw material costs, and new breakthrough technologies are not in sight. Experts warn: Prices will even continue to rise for the time being.