The energy transition is a powerful economic driver for the Hanover region. A study by DIW Econ shows that an ambitious energy transition by 2035 would result in additional investments of around €24.9 billion, €14.3 billion of which would directly benefit the Hanover region. This could generate around €9.5 billion in gross value added and create an average of around 4,100 jobs. Local budgets would also benefit significantly, with projected additional tax revenues of around €470 million.
These results demonstrate that climate protection and economic success go hand in hand. By consistently implementing the energy transition and making ambitious investments, the Hanover region can further expand its pioneering role on the path to achieving climate neutrality by 2035.
The economic effects in four sectors were examined: electricity; transport; buildings and heat supply; and industry. Almost 60% of the investments remain directly in the region, strengthening the crafts sector, the construction industry and regional companies in particular. In addition to the measurable economic effects, the energy transition also strengthens innovation, location attractiveness, security of supply and regional value creation.