Germany is losing a lot of money to keep the lights on. Almost half a trillion dollars, and counting, since he started war of Ukraine nine months ago. Half a third may not even be enough.
"How serious will this be? crisis and how long it will last depends largely on how the energy crisis", said Michael Groemling at the German Economic Institute (IW).
"The national economy as a whole faces a huge loss of wealth."
The money available amounts to 440 billion euros ($465 billion), according to the calculations, which provide the first combined account of all Germany's moves aimed at avoiding running out of energy. energyand in securing new sources of energy.
The above amount is equivalent to about 1,5 billion euros per day since Russia invaded Ukraine on February 24. Or about 12% of the national economic output. Or about 5.400 euros for each person in Germany.
Germany, on the other hand, wants renewables to account for at least 80% of its electricity generation by 2030, up from 42% in 2021. However, at recent rates of expansion, the country's goal remains a long way off. .