Regulierungen und Investitionen für die Energiewende

The report analyzes the investment potential for renewable energy in Germany, concluding that sufficient capital exists to meet government targets provided an appropriate regulatory framework is in place. It emphasizes that a diverse mix of investors—including households, cooperatives, and institutional investors—is essential for cost-efficiency. The analysis highlights that current energy market designs may lead to an increase in negative electricity prices by 2030, which could raise bid prices for onshore wind by 17% if flexibility mechanisms are not introduced. The report recommends predictable auction rounds, de minimis rules for small investors, and inflation-indexed subsidies to lower costs and maintain a broad investor base.

• There is sufficient capital available to meet the German government's renewable energy expansion targets, with an annual investment potential of €25 - €35 billion, which is 60% to 170% higher than the required investments for the 7.4 GW annual target for PV, onshore wind, and offshore wind by 2020.
• The lack of flexibility in the energy system could lead to more than 1,000 hours of negative electricity prices by 2030. If no flexibility mechanisms are introduced, the current regulation to reduce subsidies during negative prices could increase bid prices for onshore wind power plants by 17% by 2020.
• The design of auctions significantly impacts the investor mix; while large investors benefit from competitive environments, small investors are deterred by complexity and high transaction costs. Implementing de minimis rules is necessary to maintain a diverse range of actors.
• Specific regulatory changes can lower the cost of electricity generation: inflation-indexed subsidies could reduce bid prices by 18-20%, whereas shortening the subsidy period from 20 to 15 years could increase bid prices by 15-18%.
• End consumers played a significant role in financing, accounting for more than 25% of equity investments in 2015, and are projected to provide 50% of the equity investment potential by 2020.
• Unreliable long-term expansion targets hinder process optimization and increase costs; for example, halving the expansion targets for offshore wind could increase electricity generation costs by 6% by 2020.
• A delay of 12 months between auction rounds can increase bid prices by 21%, highlighting the need for frequent and predictable auction cycles to mitigate risks.

APA

Nelson, D., Huxham, M., Muench, S., & O’Connell, B. (2016). Regulierungen und Investitionen für die Energiewende. Climate Policy Initiative. https://www.climatepolicyinitiative.org/wp-content/uploads/2016/04/Regulierungen-und-Investitionen-für-die-Energiewende-Zusammenfassung.pdf

Chicago

Nelson, David, Matthew Huxham, Stefan Muench, and Brian O’Connell. Regulierungen und Investitionen für die Energiewende. Climate Policy Initiative, 2016. https://www.climatepolicyinitiative.org/wp-content/uploads/2016/04/Regulierungen-und-Investitionen-für-die-Energiewende-Zusammenfassung.pdf.

Wikipedia

{{cite report |last1=Nelson |first1=David |last2=Huxham |first2=Matthew |last3=Muench |first3=Stefan |last4=O’Connell |first4=Brian |title=Regulierungen und Investitionen für die Energiewende |publisher=Climate Policy Initiative |date=April 2016 |url=https://www.climatepolicyinitiative.org/wp-content/uploads/2016/04/Regulierungen-und-Investitionen-für-die-Energiewende-Zusammenfassung.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{nelson2016regulierungen, author = {Nelson, David and Huxham, Matthew and Muench, Stefan and O’Connell, Brian}, title = {{Regulierungen und Investitionen für die Energiewende}}, institution = {Climate Policy Initiative}, year = {2016}, month = apr, url = {https://www.climatepolicyinitiative.org/wp-content/uploads/2016/04/Regulierungen-und-Investitionen-für-die-Energiewende-Zusammenfassung.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }