Half of all firms in Germany already use electricity from renewables but use of climate-friendly heat is much less common

Anke Brüggemann and Johannes Rode

Publications of Darmstadt Technical University, Institute for Business Studies (BWL) from Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL)

Abstract: A recent analysis of the KfW Climate Barometer revealed that in the year 2022, 4.3% or approx. 160,000 private-sector firms in Germany invested in the generation and storage of electricity or heat from renewable energy sources. That was significantly more than in the previous year. The increase in fossil fuel prices caused by Russia's war of aggression against Ukraine has made investment in renewables more attractive. More than half of firms (54%) in Germany were already using electricity from renewables. But only one in ten businesses was using heat from renewable energy. Both electricity and heat from renewables are more common in larger enterprises than in smaller firms. The provision of heat in industry and commerce is still largely based on burning fossil fuels. That is why it is now necessary to place a stronger focus on the decarbonisation of industrial process heat supply.

Date: 2024-04-26
New Economics Papers: this item is included in nep-cis, nep-ene, nep-env and nep-eur
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