The consequences of the Ukraine conflict could accelerate Germany's green energy transition despite Berlin's decision to reconnect coal-fired power plants to compensate for falling fossil fuel supplies from Russia, a study showed.
The German government has been pushing for a shift to renewable energy, aiming for renewables to contribute 80% of the country's electricity generation by 2030.
The study by credit insurer Allianz Trade found that Germany's green energy goals were likely to increase the share of renewable energies in the electricity mix in the medium term, even beyond what would be required to meet the Paris climate targets by 2035.
The study found that an increase of coal-fired power generation, which the German government approved earlier this month, will not raise CO2 emissions in the European Union because the production will be limited by the EU emissions trading system.