It’s hardly surprising if people currently have a rather bleak picture of the future. The geopolitical situation has deteriorated over recent years, while the European elections have strengthened parties on the fringes of politics. In terms of being a business location, competition with other economic areas worldwide is fiercer than ever before, while the economic development of Europe and Germany is much weaker than it could or should be.

These are very worrying developments, especially since there is no imminent solution to any of these challenges. The same is true when it comes to climate change – one of the most pressing issues of our times. This long-term threat calls for continuing major investment by both the state and the private sector – something that is not currently easy to achieve, given the weak economy and Germany’s strained federal budget. This strengthens the perception that the economy and ecology are at odds with one another. Nothing could be further from the truth, however – in fact, a much stronger joint approach needs to be taken to climate protection and the economy. The means for achieving this are provided by the market economy and companies that are keen to leverage market opportunities with a view to decarbonising our industrial society. For example, a survey of ZVEI member companies reveals that 90 percent of them are already investing in measures to boost energy efficiency. However, this survey also shows that companies feel their initiatives are increasingly being thwarted by red tape.

The time is therefore ripe for a major change – towards greater efficiency of business, politics and society, and with a view to our available resources. The good and practical thing about this is that we already have highly effective levers for this “efficiency revolution”. What we need to do now is use them – and that means the most extensive possible electrification, digitalisation and automation of all sectors. This must be combined with smart use of energy, especially when it comes to generating, distributing and storing it. The fact is, electricity from renewable sources is the raw material of both the energy revolution and the efficiency revolution. The annual electricity requirement is set to more than double from its current figure of 550 TWh to up to 1,200 TWh in 2045. At the same time, we can reduce our primary energy requirement by more than 50 percent by using electricity, and save a further 30 percent by consistently pursuing digitalisation and pressing ahead with sector coupling. Both the ZVEI and I personally are therefore convinced that the future is electric. This is not ideological – it is simply the most efficient, most sensible way.

The electrical and digital industry is therefore a strong partner with the necessary know-how. It has already developed many essential technologies and has the innovative strength needed to tackle major challenges. However, fundamental changes call for two key things – a strong will to make change happen and the right framework conditions. This is why the political sector, too, must prescribe an efficiency revolution. The entire regulatory framework must be made more consistent – nationally and at EU level. The ZVEI expects the new EU Commission to focus on and implement a competitive framework. Regulations must be streamlined, checked for coherence and consistently reduced. It is absurd that the very people who are forging ahead and investing have so many obstacles put in their way. This must stop, because it curbs entrepreneurial spirit and the will to make change happen – permanently. The stated target of reducing reporting requirements by 25 percent can be used as a guideline here. Ultimately, this will leave companies more room for innovation and progress and for securing prosperity.

Populist debates don’t get us anywhere. Instead, we need to play the technological and administrative efficiency card. Politics, industry and society need to come together and engage in factual, democratic and pluralist discourse. Let’s look forward with optimism – and launch the efficiency revolution now.