182 ledlights.blog

What is the market scenario of the share of energy consumption in Germany?

Reading Time: < 1 minutes
spotify badge ledlights.blog

As per eia.gov reports,

Germany ranked 24 in the production of total energy in 2019. In Europe, Germany was the last consumer of energy and it is seventh in the world in 2019. (BP Statistical Review of World Energy).

The GDP ranking for Germany is 4. The export and import value is equal to 86.9% of GDP. The nominal value of GDP is $3.85 trillion. GDP per capita is $45.466 and the purchasing power parity is $4.45 trillion.

Germany relies heavily on importing energy and around 71% of energy has been imported from the total German energy supply.

Energiewende is the new initiative by Germany to transit in low-carbon energy with a more efficient energy mix. The key initiative is to depend on more renewable energy sources and come out of the coal and nuclear energy resources. The key target is relying on renewable energy sources for 65% of gross electricity consumption by 2030 and shutting down the remaining nuclear power plants by 2022.

Well, as we can see the market growth for Renewable energy sources or other primary energy sources is in demand. The sectors are well established and energy generation has also been shown.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.