Buffering volatility: A study on the limits of Germany's energy revolution☆
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Lecture in honour of Cees Withagen, given at his farewell conference in Amsterdam, April 2016. The research assistance provided by Wolfgang Meister along with Hans-Dieter Karl and Christoph Zeiner is gratefully acknowledged. Helmut Alt, Ralph Schuster and Christoph Weissbart kindly provided background data and information. The author is emeritus professor at Ludwig-Maximilian University of Munich. He has no financial interests in the nuclear, fossil fuel or green energy industries nor is he affiliated with a political party. He wishes to thank the editors and three anonymous referees for their extremely useful advice. The paper is dedicated to Wolfgang Meister who has served the Ifo Institute for many years with commitment, precision and care and who is now retiring.