Renewable Energy is Sinking the German Economy -McKinsey



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ORIGINAL POST

Posted by Ed 2 mths ago

McKinsey issues its strongest warning when it comes to Germany’s increasingly insecure energy supply due to its heavy reliance on intermittent solar and wind. For three days in June 2019, the electricity grid came close to black-outs.

“Only short-term imports from neighboring countries were able to stabilize the grid,” the consultancy notes.

As a result of Germany’s energy supply shortage, the highest observed cost of short-term “balancing energy” skyrocketed from €64 in 2017 to €37,856 in 2019.

“It can be assumed that security of supply will continue to worsen in the future,” says McKinsey.

German consumers have paid dearly for the energy transition. German electricity prices are 45% above the European average, McKinsey reports. Green taxes account for 54% of household electricity prices. 
 
 
https://www.forbes.com/sites/michaelshellenberger/2019/09/05/renewables-threaten-german-economy-energy-supply-mckinsey-warns-in-new-report/#2f0bd88e482a
 
The actual report can be found here  

COMMENTS

Ed 32 days ago
“Germany’s Federal Court of Auditors is even more forthright about the failures. The shift to renewables, the federal auditors say, has cost at least 160 billion euros in the last five years.
 
Meanwhile, the expenditures “are in extreme disproportion to the results,” Federal Court of Auditors President Kay Scheller said last fall, although his assessment went largely unheard in the political arena.
 
Scheller is even concerned that voters could soon lose all faith in the government because of this massive failure.”
 
 
 https://www.spiegel.de/international/germany/german-failure-on-the-road-to-a-renewable-future-a-1266586.html


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