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date: 05 March 2021

Abstract and Keywords

Energy efficiency and renewable energy sources are the two main pillars of the future energy system the German government aims at with its long-term energy concept. This chapter reports the economic impacts of these mitigation policies based on two recently completed studies with the economy–energy–environment model PANTA RHEI. Results show both for energy efficiency and for renewables positive macroeconomic impacts concerning gross domestic product and employment. Additional investment increases demand in the short run and reduces energy costs in the long term. Sensitivity analyses look into different assumptions for fossil fuel prices, domestic installations, and international trade. The development of world markets and German exports is very important. Globally, countries will change their energy system. The necessary transition from fossil fuels to energy-saving and renewable investment opens excellent export opportunities for German industries.

Keywords: economic impacts, economy–energy–environment model, employment, energy efficiency, macro economy, renewable energy

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