Energy transition progressing too slowly, according to McKinsey
Germany is missing its energy transition targets. In the medium term, supply security could be at risk after the phase-out of nuclear power and fossil fuel. This is the finding of the McKinsey Energy Transition Index.16 Oct. 2019 Barbara Rusch
Since 2012, McKinsey has published its Energy Transition Index every six months, rating the status of the energy transition in Germany based on 14 indicators. The latest index provides a general overview of developments since the beginning of the study. The bottom line: Germany is missing most of its 2020 energy transition targets. In the medium term, after the phase-out of nuclear power and fossil fuel, supply security could be at risk if the shutdown capacities are not flexibly replaced in time and the relevant transport networks do not expand at a faster rate.
Since 2012, just 6 of the 14 indicators and targets have developed positively or stably overall: At 37.8%, the share of gross electricity consumption from renewable energy sources has already exceeded the 35% target set for 2020. Industrial electricity prices have fallen since 2014. The indicators ‘power failure’ and ‘secured reserve margin’ are also within the target range. According to the analysis, the number of jobs in energy-intensive industries has risen by around 130,000 to 1.72 million in the last seven years, while in renewables, it has declined slightly and is relatively stable at around 338,000. However, a survey conducted by IG Metall sees a negative trend in the wind energy industry here: 26,000 jobs were lost in 2017 alone.
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