At the World Economic Forum in Davos, Federal Chancellor Olaf Scholz affirmed that the green transformation is compatible with Germany's preservation as a major industrial nation.
"Whether you are a business leader or a climate activist, whether you are a specialist in security policy or an investor - it is now crystal clear for each of us that the future belongs solely to renewable energies," said Scholz.
"For cost reasons, for environmental reasons, for safety reasons, and because renewable energies promise the highest returns in the long term." By 2030, around 400 billion euros would be invested in renewables in Germany alone.
Gerald Braunberger
Editor.
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Meanwhile, German industry not only needs electricity, but also hydrogen, which could play an important role: “Europe is the world market leader for patents on hydrogen.
And one in ten applications in the world comes from Germany.”
"Boom in electrolysis"
Germany will strive for hydrogen partnerships in the world.
As long as the quantities are small and the prices are high, the state will keep prices down to a level that is attractive for the industry.
"Our goal is nothing more than a boom in electrolysis," said Scholz.
In Germany, in Europe and in the world, energy must be affordable.
Addressing the emerging and developing countries in particular, Scholz said that Germany's purchase of liquefied gas should not lead to a shortage on the world market.
The Chancellor contradicted the impression that the success of German industry in the past consisted essentially in the purchase of cheap gas from Russia, which was used in Germany in energy-intensive industries such as aluminum, cement and crude steel.
Energy prices in Germany were not the lowest even before the Russian war against Ukraine.
"Nevertheless, Germany was and is competitive," assured Scholz.
Last but not least, German economic success is based on highly specialized and technology-intensive industrial products.
Scholz spoke out in favor of preserving free trade.
He welcomed the "Inflation Reduction Act" of the United States, which is also viewed very critically in Europe and which provides state funds of over 370 billion dollars for investments in renewable energies and climate-friendly products, as a measure in favor of the climate.
However, this should not result in any disadvantages for European companies.
"As the European Union, we are talking about this with our American friends," said Scholz.
But Europe must nevertheless offer better conditions for investments.