Germany Invest on Alternative Energy: Leading to Make the World Greener
In 2010 Germany decided to review their policy on renewable energy. A recent study conducted by CPI (Climate Policy Initiative) gave an overview of efforts of German businesses and households and how they financed their energy efficiency and renewable energy?
Climate Policy Initiative (CPI) is an advocacy organization which concerns about alternative energy. This organization is financed by billionaire hedge-fund manager George Soros. According to the report of CPI Germany invested 37 billion euros, which is 1.5% of their GDP in 2010. In this total amount private industries invested 22 billion euros and the rest of the amount (14 billion) was invested by individuals.
German government is very much committed for developing green Germany. In this regard they are planning to reduce greenhouse gas emissions 80-95% by 2050. They are also estimating around 2022, the only current viable carbon-free clean energy, run by nuclear power. These plans are very much encouraging for other countries to step forward for making a green world by producing alternative energy.
For renewable energy generation Germany such as solar power constitutes most of these invests and the exact amount is 26.6 billion euros. Small scale renewable energy projects like installations of residential solar photovoltaic were 75% of that while large-scale projects accounted for the remaining 25%. The solutions of reducing emission of greenhouse gases are for short period and costs 7.2 billion euros.
These efforts are well appreciated by many people, especially by CPI. Barbara Buchner, Director, CPI Europe says, “The task of the government is to create the conditions for businesses and households to invest in renewable energy and energy efficiency. And indeed, government-backed low-interest loans and policies such as the feed-in-tariff seem to have played an important role in encouraging these private investments.” German Landscape of Climate Finances is also a part of CPI’s work to monitor climate finance throughout the world.
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