MUNICH (dpa-AFX) - The CEO of Wacker Chemie, Christian Hartel, has called for a faster energy transition. "Renewable energy, especially photovoltaics, is by far the cheapest energy on the planet," Hartel told the Münchner Merkur newspaper (Tuesday). Carbon-based energy and electricity from new nuclear power plants would be more expensive. Wacker is the global market leader in polysilicon for the solar and semiconductor industries and is one of the largest consumers of electricity in Bavaria.

Huge solar and wind parks are being built in the USA. "We are also noticing this in the demand for our polysilicon: last year, 450 gigawatts of solar power were installed worldwide, this year it will be 500," said Hartel. In Texas, green electricity is available for four cents, without subsidies, "simply because it pays off". China has also understood the economic importance of renewable energy and installed over 200 gigawatts of solar power last year.

The increasing share of renewables will lead to more fluctuations in both the power supply and prices. In five or ten years, however, electric cars will be able to store and supply electricity, smoothing out peaks and troughs to a certain extent. Artificial intelligence also helps to work with fluctuations, said the CEO.

The construction of power lines to Bavaria for wind power from the north had been too slow for a long time. But it would be wrong to create two price zones now: industry in the south would be less competitive due to higher electricity prices, and wind power investors in the north would have fewer customers and lower prices.

In Germany, it is difficult to think about new capacities for energy-intensive processes, said Hartel. There is a lack of planning security. The basic prerequisite is competitive, predictable energy prices./rol/DP/ngu