Climate notes: the energy-policy turnaround in Germany and three energy-policy objectives – Part 1: security of supply

The energy-policy turnaround is one of the biggest challenges facing the German economy in the coming decades. In order to achieve the two main objectives of current energy policy – to reduce CO2 emissions by 80% by 2050 and to shut down the remaining nuclear power plants by 2022 – the share of renewable energy sources in the electricity supply, for example, is to be increased by up to 35% in 2020 (and 80% in 2050). The extent to which this necessary restructuring of the electricity supply system will be considered a success will depend not only on the realisation of the decommissioning and emission-reduction targets but also on the environmental impact of the new system as a whole and the impact on the security of supply and the affordability of the energy supply. These three elements – energy security, environmental sustainability and affordability or cost-effectiveness – are the three cornerstones of the triangle of objectives for the energy industry. In this and subsequent editions of ifo Schnelldienst these “Notes on the climate” will examine the various points in the corners of the objective triangle. The article is this issue deals with the security of supply.