The transformation of global energy systems is progressing at a breathtaking pace. Last year, investments in green technologies worldwide exceeded those in fossil energies for the first time. Europe is playing a leading role in this. "Politicians and private investors have recognized the signs of the times", says Markus W. Voigt, CEO of the aream Group. Driven by government support measures, spending is likely to reach new records in the coming years.

In 2022, global investment in the transformation of energy systems climbed to $1.1 trillion - an increase of around 30 percent - according to think tank BloombergNEF. This was the first time it was higher than spending on oil, natural gas and coal production. Solar and wind energy accounted for the largest share of green investments, increasing 17 percent year-on-year to nearly $500 billion. E-cars followed behind with just under $470 billion. 

China accounted for almost half of the global investment in the transformation of energy systems. EU nations followed in second place with $180 billion, with the U.S. behind at $140 billion, according to BloombergNEF. "The numbers are impressive," Voigt comments. "At the same time, however, it's clear that investments still need to increase significantly in order to achieve the climate targets we're aiming for."

Germany in particular is lagging behind when it comes to the energy transition. Although 126 terawatt hours were produced from wind and 59 terawatt hours from solar in this country last year, according to calculations by the think tank Ember. However, solar energy only accounted for just under ten percent of Germany's total electricity mix - with the Netherlands leading the way with 14 percent. In the case of wind, the share was around one-fifth, while in Denmark it was half. "There is still a lot of room for improvement in Germany", Voigt said.

However, the sun did not play into the hands of renewables in Germany at the beginning of the year: Few high-yield sunshine hours and low irradiation values meant that only 68 percent of the target value was achieved in January. In addition, the government's skimming of profits will reduce revenues by about ten percent. In Spain, by contrast, target achievement was 104 percent despite lower irradiation. In Italy, on the other hand, persistent technical failures due to long delivery times and a shortage of technicians led to poor yields (78 percent of target). Things went better for wind power in January, with the German aream wind farms achieving their target at 103 percent.