Renewable energy adds EUR 17bn to German economy in 2012 - study

Sep 3, 2013 - Biomass, wind and solar energy boosted the German economy with EUR 17 billion (USD 22.4bn) in added value in 2012, according to the results of a research ordered by Greenpeace and published on Monday.

The study was conducted by the German Institute of Ecological Economy Research.

According to the results, renewable energy stimulates local economies, especially in underdeveloped rural areas. Cities and municipalities profit with some 66% of the added value from renewables. The German government should not neglect these facts in the future reform of the renewable energy law, Andree Boehling, energy expert from Greenpeace, said.

Installation, planning and operation of renewable energy systems provided two thirds of the added value in 2012. In addition, another EUR 8.5 billion was generated by suppliers and service providers.

Solar and wind power alone account for EUR 16 billion or 68% of the added value, the research showed. Their use also saved around EUR 6 billion which would have been spent on oil, coal and gas imports.

(EUR 1.0 = USD 1.317)

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