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Energy market liberalization and the emergence of new energy ventures in Germany

Author

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  • Pant, Prashant
  • Belz, Frank-Martin

Abstract

This paper investigates how energy market liberalization and the policies supporting renewable energy integration have influenced the emergence of new energy ventures in Germany. A wide range of policies is examined, including the Energy Industry Act (EnWG), the Renewable Energy Sources Act (EEG), the Buildings Energy Act (GEG), and several others that have shaped the sector. The analysis is organized around the electricity value chain by considering upstream, midstream, and downstream segments and traces policy impacts on venture creation through data and case studies. The findings suggest a noticeable trend between regulatory measures and the development of innovative business models. Importantly, the study highlights that technological advancement alone is not sufficient; policy support, financial incentives, and market access mechanisms are critical drivers of both entrepreneurial activity and new venture emergence. The study provides practical insights for policymakers internationally, particularly in countries in the Global South that have yet to undergo energy market liberalization.

Suggested Citation

  • Pant, Prashant & Belz, Frank-Martin, 2026. "Energy market liberalization and the emergence of new energy ventures in Germany," Energy Policy, Elsevier, vol. 208(C).
    • Handle: RePEc:eee:enepol:v:208:y:2026:i:c:s0301421525003891
    DOI: 10.1016/j.enpol.2025.114882
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