Bloomberg BusinessWeek reports on exciting news from Germany on the clean energy front:
Not since the allies leveled Germany in World War II has Europe’s biggest economy undertaken a reconstruction of its energy market on this scale.
Chancellor Angela Merkel is planning to build offshore wind farms that will cover an area six times the size of New York City and erect power lines that could stretch from London to Baghdad. The program will cost 200 billion euros ($263 billion), about 8 percent of the country’s gross domestic product in 2011, according to the DIW economic institute in Berlin.
Needless to say, this is a highly ambitious program for clean energy in one of the top world economies. The head of Germany's second-largest utility, RWE, compares it to "the first moon landing," while the DIW economic institute's senior energy expert says that if it succeeds, "it could be a role model for economies all over the world."
The question is, will other major world economic powers like the United States, which currently has no federal-level renewable energy mandate, follow Germany's lead? Or, will those countries allow others to take the lead in a sector that's likely to be a major driver of economic growth in the 21st century?