06.8.2022

Make no mistake, energy transition will be difficult and costly

Germany stands as a stark testimony. It has spent more than €500 billion ($743 billion) transitioning its electricity system, boosting wind and solar to more than 45 per cent of generation since 2000. But it had to keep 89 per cent of its fossil-fired capacity to deal with the problems caused by calm, dark days. It now boasts Europe’s most expensive retail power and is strategically exposed because the country can’t function without imported gas.

This was originally posted here at the Sydney Morning Herald (SMH) on June 3, 2022.

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