Germany’s power market is in the midst of a significant transition. Demand continues to fall despite normalizing prices, and retired coal and nuclear capacity mean the European giant is now heavily reliant on imports from its neighbors. But it’s not all bad news for the sector. Rystad Energy projections show Germany will surpass its policy goal of 80% renewable energy generation by 2030, largely thanks to the rapid capacity build-up of solar and wind. While the country’s quick adoption of renewable energy systems has helped to offset the loss of traditional power capacity to a degree, the speed of the transition has not been sufficient to keep up with demand.
Renewable energy capacity in Germany has grown significantly in recent years. With 143 gigawatts of alternating current (GWac) installed by the end of 2023, the nation is the stand-out leader in Europe. New solar and wind installations hit a record last year,…
