Peter Altmaier, the German Minister of Economy, stated that Germany is supporting steps to increase energy efficiency in buildings through support and incentives amounting to $7.2 billion this year.
Altmaier added that the measures supported by the federal government include programs for upgrading existing buildings through better thermal insulation and more efficient heating systems. The construction sector is a crucial factor if we want to succeed in the energy transition. However, the modernization campaign could lead to an increased cost of living for the German people, as the law allows property owners to pass on the costs of investments to tenants through increased rents. This endeavor is expected to support the housing sector in achieving carbon neutrality by 2050, enabling Germany to meet its broader climate protection goals over the next three decades.
