Germany heads towards 50% power generation from renewable sources

As reported by news agency Reuters, Germany is likely to generate more than 50% of its electricity from renewable sources this year.

This comes as they have been warned that they need to ramp up the speed of its move to renewable source before the end of the decade according to their Economy Minister Robert Habeck.

Germany is facing an increased demand for electricity as they move away from gas as their primary source of energy but they need to hit a target of 80% of power coming from a renewable source by 2030.

The minister has warned that they will not get there at the current pace.

Solar and on-shore wind development is on target but the lack of available parts is currently slowing down the expansion of their off-shore wind build program.

The UK is no different in its quest for a renewable future with wind, nuclear, hydro and solar forming the UK’s future renewable electricity generation mix in its drive to become net zero by 2050.

As we will remain reliant on imported gas until this point, it has never been more important to keep a track on the wholesale market as it will remain volatile until we reach the point where we are are self sustainable.

It only takes a couple of minutes a week to check and gain a good knowledge of the key influencers – this knowledge will make such a difference when it comes to making a decision on which contract option to take on renewal.

Please click here to see our easy to understand price trends reports. It’s updated every Monday morning so please check back to see the latest information.