Germany to Champion Energy Efficiency with $19.4bn Investment

Germany’s energy minister has announced massive investment in energy efficient technologies to take place over the next five years.

Sigmar Gabriel said the country will invest €17 billion ($19.4 billion) in a “broad campaign”, dubbed ‘Effizienzoffensive’, with an ultimate goal of halving energy consumption by 2050.

“The cleanest and cheapest energy is that which is not consumed. We need to not only firmly anchor this principle in our energy policy, but we also need a shift in consciousness in our society,” Gabriel said, according to a release published by Germany’s Federal Ministry for Economic Affairs and Energy.

The initiative is aimed at helping the country reach emissions reduction targets adopted both domestically and as part of the Paris Agreement, and could also have an impact on EU carbon prices if it reduces demand for power and heating in Germany, the 28-nation bloc’s top economy and emitter.

Werner Lutsch, Manging Director AGFW (German CHP and district energy association) and President of Euroheat & Power told Decentralized Energy he hopes to see CHP and district energy initiatives prominent when investment decisions are made.

“Boosting investment in energy efficiency is such an important initiative. Significant energy savings must be coupled with sustainable low carbon energy supply. Our sector looks forward to ensuring that district heating and cogeneration make their key contribution in the process.”

‘Effizienzoffensive’ will comprise of four programmes including:

• A competitive tender to find the most cost-effective energy saving measures;
• A pilot programme promoting smart metering;
• An initiative to improve the recovery of waste heat, and;
• An initiative to promote cross-cutting technologies, namely those that enhance the efficiency of energy output or its use.

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Source: Decentralized Energy