How industrialization can accelerate the energy transition.
The energy transition is a generational project. And one that costs a lot of money: In Germany, alone 1,200 billion euros must be invested by 2035. But the money is there. The real hurdle is not being able to spend it fast enough. There are many reasons for this. In addition to regulatory issues and approval procedures, energy technology companies in particular are struggling to produce the enormous amount of infrastructure and technical equipment.
Electricity is the fuel of our modern society. We need a lot of it—produced as quickly and environmentally friendly as possible. Efficient production, distribution and use is probably the biggest challenge since the industrial revolution. The term ‘energy transition’ is now firmly anchored in our language. It refers to the transition from fossil and nuclear energy sources to renewable energies such as wind, sun and water. To reduce CO₂ emissions, counteract climate change and ensure a sustainable energy supply, Germany aims to become climate-neutral by 2045.
