Short and long-term positive effects on the gross domestic product and on employment were found. And because climate targets can also be achieved by reducing greenhouse gases, there is no risk of fines, so a “double dividend” is achieved.
The analysis includes the macroeconomic benefit of investments in renewable energies for specific technologies for energy production and storage: It is about the expansion of the necessary 27 TWh from all possible energy power plants: biogas, biomass heat, biomass combined heat and power (biomass generates heat and electricity via a generator), geothermal energy, hydropower, solar power, pumped storage power (a rechargeable electricity storage system), solar thermal and wind power.
The conclusion of the study: “Over the next ten years, these technologies will generate an increase in gross domestic product (GDP) of 9.8 billion euros per year. On average, more than 100,000 additional jobs could be created. By displacing fossil fuels, more than 13 million tons could be avoided in 2030, that would be half of the currently required reduction amount.
Electricity production only affects part of the energy transition, the next chunks that the government wants to tackle are more efficient heat production (house insulation), which will create a particularly large number of jobs, as well as the turnaround in traffic towards electric drives.