German Renewable Power Cheaper Than Fossils in 2030, Study Shows

Germany will pay less for electricity from renewable sources than from coal and natural gas in 2030 if it reaches energy targets, the environment ministry said.

Renewable power will cost 7.6 euro cents per kilowatt-hour in 2030, with hard coal and natural gas rising to more than 9 euro cents per kilowatt-hour, the ministry said today in an e- mailed statement, citing a new study it commissioned.

The 331-page document monitors a plan to exit nuclear energy by 2022 and raise the share of renewable sources to at least 35 percent of the power mix by the end of this decade. It forecasts Germany beating that target to reach a share of about 40 percent renewables by 2020, up from 20 percent now.

The study’s projections show “that the plan to transform our energy mix is doable,” Environment Minister Norbert Roettgen said in the statement.

To contact the reporter on this story: Stefan Nicola in Berlin at snicola2@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net