(Berlin) - The Federal Cabinet has decided to submit the government draft for the economic plan of the “Climate and Transformation Fund” (KTF) for 2024 as well as the financial planning until 2027. The planned investments amount to a total of 211,8 billion euros. The expenditure in the 2024 economic plan amounts to 57,6 billion euros. Of this, 47,4 billion euros are attributable to programs run by the Federal Ministry for Economic Affairs and Climate Protection (BMWK).
3,7 billion euros for the hydrogen economy
One of the key tasks for 2024 is the ramp-up of the hydrogen economy, including the “Hydrogen Strategy for Foreign Trade”, which also includes the H2Global Foundation. As reported, this is a double auction mechanism that works according to the “Contracts-for-Difference” (CfD) approach: Green hydrogen and its derivatives are purchased outside Europe at the lowest possible price with 10-year contracts and then within Europe sold to the highest bidder.
It is to be expected that the purchase price is currently even higher than the sales price. The negative difference will be compensated for a limited time by federal grants. The Leipzig-based subsidiary Hintco GmbH acts as an intermediary. Around 3,7 billion euros are earmarked for this in the KTF.
Promoting efficient buildings and EEG
Other focal points include the promotion of efficient buildings including the social cushioning of the new Building Energy Act (around 18,8 billion euros), the financing of the Renewable Energy Act (around 12,6 billion euros), electricity price compensation to relieve companies of the burden Costs from EU emissions trading (around 2,6 billion euros), the promotion of electromobility including battery cell production (around 1,6 billion euros), measures to improve energy efficiency in industry and commerce (around 850 million euros) and the transformation of the Heating networks (around 800 million euros). In the future, other transformation technologies, such as the production of solar systems, will also be taken into account.
The Climate and Transformation Fund is a special fund under the responsibility of the Federal Ministry of Finance. Management is largely the responsibility of the Federal Ministry for Economic Affairs and Climate Protection.
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The draft of the KTF economic plan, together with the draft of the federal budget, will be submitted to the Bundestag for the parliamentary procedure. © German Bundestag
