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The S&P GSCI German Power (Yearly) is designed to measure the performance of the German power market. Explore S&P Global. Search. English. Español (Spanish) working with exchanges around the world to build indices for both the
Why should Germany use energy storage systems?
Germany is under increasing pressure to rapidly decarbonize its electricity system, while ensuring a secure and affordable electricity supply. In this context, energy storage systems (ESSs) can play a crucial role in enabling a high share of variable renewable electricity generation.
How is Germany transforming the energy system?
In addition to the complexity of transforming the German electricity system, climate-related targets and policies have been tightened substantially. The newest amendment of the Renewable Energy Sources law requires renewable energy sources to cover at least 80% of the annual electricity consumption in 2030.
Why is German electricity so important?
Due to its central location in Europe, Germany is highly interconnected to its neighbors, importing and exporting electricity from eleven other countries. The German electricity system is undergoing a profound change from a formerly coal and nuclear power dominated country to one depending solely on renewable energies.
How much renewable electricity is generated in Germany in 2024?
At 140 terawatt hours, more renewable electricity was generated in Germany in the first half of 2024 than ever before, accounting for 65% of net public electricity generation. Generation from fossil fuels continues to decline as do the electricity prices on the exchange.
Why is Germany a net electricity exporter?
Historically, the German electricity system has been a net electricity exporter, providing more electricity to its neighbors than it imports. This has been especially relevant in 2022 when France suffered from several unscheduled maintenance periods for its nuclear reactors.
What type of electricity is produced in Germany?
Similar to other studies discussing the German electricity system transition, such as Bartholdsen et al. and Maeder et al. , most electricity will be produced by solar and onshore wind, however, the generation mix varies significantly between the federal states, pertaining to the geographical conditions present in each state.