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Germany Pledges to Spend $220bn For a Green Industrial Future

Germany’s finance minster has recently unveiled the governments plans to boost funding for the country's green industrial transition by $220bn.

This fund will be used between now and 2026, to help the country expand upon its electric vehicle charging network and hydrogen technology, as well as improve their climate protection efforts.

Currently, around 40.9% of energy consumed across Germany comes from renewable sources, with hydro-power accounting for 3.4% overall, according to data from BDEW. The German government will be looking to increase this number as much as they possibly can as part of their green industrial future plan.

Germany’s EV charger network is also set to expand. In 2021, the number of fast charging EV stations doubled compared to the previous year, rising to around 3,000, according to the BNetzA, with total charging capacity also rising to around 1.5 gigawatts.

Now they have their sights focused on accelerating the expansion of this infrastructure, with plans to install one million publicly accessible charging points by 2030.

Article Credit -
Carbon Brief