Study: Faster renewables construction could boost revenues in Czechia by hundreds of billions of crowns

Accelerating the construction of renewable energy sources (RES) could boost household incomes and public revenues by hundreds of billions of crowns by 2030, according to a study by consulting firm Deloitte. The study also projects increased industrial output, GDP growth and the creation of more than 34.000 jobs. Deloitte representatives presented the study’s findings at a press conference today. According to them, Czechia could build hundreds of large power plants using European funds, but must simplify permitting processes.

The share of RES in electricity generation in the Czech Republic was 15 percent two years ago, according to Eurostat data. In the EU, where the average is around 38 percent, this was the third-lowest figure.

„Accelerating the construction of renewable energy sources would bring significant benefits to the Czech Republic. Over the next seven years, we would increase GDP by 4.7 percent and central government revenues by 4.1 percent. Municipal budget revenues would also rise, as photovoltaic and wind power plants will be built in the regions. In addition, a further 34.000 new jobs would be created during construction,“ said David Marek, chief economist at Deloitte.