Key Findings

The energy transition is affordable for Germany, and it will likely be even more affordable for other countries.

Germany has benefited economically from its international leadership role in going renewable – similar to Denmark and other pioneers moving to renewables. Germany has created the world’s largest domestic solar PV market. German commitment and Chinese mass scale production has helped to drive down the cost of renewables worldwide. In Germany, installed system prices for solar PV plummeted by 66% from 2006 to mid-2012. It will be much cheaper for other countries to invest in renewables now that the costs are lower. On top of that, many countries have much better solar resources than Germany; some of them with the capability of producing up to twice as much power from the same solar panel, because of more sunshine.