The German government's subsidy scheme for renewable energies and energy efficiency in the building sector remained popular in the second quarter of 2020 despite the coronavirus pandemic, the Ministry for Economic Affairs and Energy said on Monday.
"These are excellent developments in difficult times. With our programs, we are advancing the energy turnaround in the building sector," Minister for Economic Affairs and Energy Peter Altmaier said.
With the subsidized investments, over 400,000 tons of CO2 emissions had been avoided in the first half of 2020. According to the ministry, the total investment volume for the modernization of more than 215,000 residential units as well as commercial and municipal buildings was 38.5 billion euros (45.2 billion U.S. dollars).
Subsidized investments in energy efficient building refurbishment in the first six months of the year were more than twice as high as in the same period last year, according to Ingrid Hengster, managing director of the German state-owned development bank KfW, which processed the funding.
"Following the decisions of the climate cabinet and the improvements in our energy efficient construction and renovation program, demand for KfW promotional loans and grants is booming. Even the COVID-19 pandemic could not stop this trend," Hengster commented.
Editor:Cherie
