Politics endangers energy transition and jobs

According to the Finanznachrichten newspaper, Stiebel Eltron is planning further job cuts. In its main location in Holzminden alone the number of jobs is to be reduced to about 1,300 by the end of the year.

Already last year the number of employees had been reduced by about 120 to 1,400, the reason given being the sluggish business in heat pumps. This had led to a drop of around EUR 50 m in turnover last year to roughly EUR 430 m.

The family-run company blames politicians for this, because the ridiculous back and forth over the question of tax depreciation is driving an industry which in itself is healthy and forward-looking into ruin, the managing director Rudolf Sonnemann comments.

He says the innovative heating industry in Germany will not be able to stand further waiting and stalling unharmed. Turnover figures in renewable energy technologies are continuing to fall.