This paper reviews the German energy policy framework, commonly known as ‘Energiewende’, which aims to transform and decarbonise the German energy system. We look at the achievements made over the last 8 years and discuss the implications, e.g., in terms of costs and rents, for consumers and producers of electricity in Germany and beyond. German policy makers have been successful in deploying new technologies, but have so far failed to achieve CO₂ emission reductions. Producer rents were significantly cut, while the subsidisation of renewables has led to a sharp increase in end-user prices. The challenge now is to start moving the energy transition beyond power generation and achieve emission savings in the transport, industry, and buildings’ sectors.

本文回顾了德国能源政策框架，通常称为“能源转型”，旨在实现德国能源系统的转型和脱碳。我们回顾了过去 8 年所取得的成就，并讨论了其对德国及其他地区的电力消费者和生产商的影响，例如在成本和租金方面。德国政策制定者成功地部署了新技术，但迄今为止未能实现CO ₂减排。生产者租金大幅下调，而可再生能源补贴则导致终端用户价格大幅上涨。现在的挑战是开始将能源转型超越发电，并在交通、工业和建筑领域实现减排。