BAKU, Azerbaijan, September 13. Germany is projected to exceed its goal of generating 80 percent of its power from renewable sources by 2030, says Rystad Energy, an independent research and business intelligence company, based in Norway, Trend reports.
According to the company's research, at the end of 2023, Germany will have installed 143 GW of renewable energy, the largest capacity in Europe.
This momentum is expected to continue with record-breaking solar and wind installations in 2024. A series of renewable energy auctions will take place between 2024 and 2028, with over 120 GW of capacity up for grabs, primarily from onshore wind.
While not all auction targets may be met, Germany’s renewable energy capacity is forecasted to reach nearly 300 GW by 2030 - more than double the current figure.
"Germany's transition to renewables is a key example of global decarbonization," says Fabian Ronningen, Vice President of Renewables & Power Research at Rystad Energy. He adds that the country is set to reduce its reliance on imports and solidify its leadership in Europe’s renewable energy market.