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The Energy Revolution and its Consequences
Study 2023: Is Germany’s competitiveness at risk compared with other nations?
The Energy Revolution is having far-reaching effects on our economy, forcing us to confront the question of whether competitiveness in Germany is at risk compared with other nations. As a factor in site location, energy is taking on increasing importance. If the Energy Revolution is not carefully implemented in consideration of economically sound aspects for market players, Germany will face a risk of deindustrialization.
Germany’s economy is facing substancial challenges
The study yields important insights that anticipate and reflect on substantial challenges that will be required within the German economy if businesses are to continue to be successful and sustainable in the years to come. The study queried 440 leading senior executives including directors, members of management and supervisory boards and interim managers across a variety of sectors in July 2023. For companies supply guarantees, cost controls and competitiveness have sharply increased in importance in the last 12-18 months. Climate protection and sustainability remain core issues. In order to remain competitive in the long run and to be able to better master problems, not only impulses from politics and state support are needed – bureaucratic hurdles must also be overcome more quickly.
Conditions are assessed with increasing scepticism
The prerequisites of the energy markets on the path toward climate neutrality are viewed critically. For example, the number of study participants who see the current framework conditions as an obstacle due to the prioritization of security of supply, risk minimization and competitiveness rose by a full 12 percentage points compared with the previous year to 32. In addition to security of supply, the improvement of the political framework conditions is of particularly high importance for most entrepreneurs with regard to their competitiveness in international comparison. This includes reducing bureaucracy, speeding up approval procedures and investment incentives.
