Germany plans to provide local industry with a billion euros to support the "green" transition.
Companies seeking to reduce carbon emissions will be able to receive subsidies to switch from fossil energy to renewable or hydrogen, Reuters reports.
It is noted that the subsidies will be available under the "carbon contracts for difference" mechanism. They can be obtained by large energy-intensive companies, medium-sized enterprises and small businesses.
The article said that the Ministry of Economy of Germany is developing a multi-level model that will make inexpensive "green" electricity available to industry.
"To help private consumers master the transition to renewable energy sources, the ministry plans to create a program with a budget of one billion euros, which will provide support to low- and middle-income households," Reuters emphasized.
The article added that a solar energy summit will also be held in Germany. It will aim to acquire more land for PV systems and provide easier access to solar energy in rental properties.
Earlier, EcoPolitic wrote, that German Chancellor Olaf Scholz announced that new gas-fired power plants will be built in the country, which will run on hydrogen.
As EcoPolitic previously reported, $6 billion will be allocated in the US to accelerate decarbonization projects in energy-intensive industries, including the production of steel, aluminum, cement, chemicals, ceramics, and paper.
