Germany Beats Renewable Energy Production Forecast; Deutsche Bank Projects 11% Growth in Electric Vehicles - Energy Minute for November 9, 2012

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Germany Beats Renewable Energy Production Forecast; Deutsche Bank Projects 11% Growth in Electric Vehicles - Energy Minute for November 9, 2012

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Friday, November 9, 2012 - 12:00pm

The share of electricity produced in Germany from renewable energy sources is expected to beat the government’s forecast, reaching almost 50 percent by 2025. The current expansion of wind, solar and other renewable power sources will top the official target of 35 percent by 2022. Renewable energy’s share in Germany’s electricity production has risen from 17 to 25 percent, driven by subsidies and investment incentives, since the country decided to phase out nuclear power after Japan’s 2011 disaster.

Deutsche Bank has forecast a growth in sales of 11 percent by 2020 for electric and plug-in hybrid vehicles. The median projected percentage among eight such projections is six percent. Plotting this growth trajectory in electricity demand and amelioration is emerging as a major issue in overall energy policy.

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