Germany’s so-called Energiewende is leading to lots of economic pain as energy prices are projected to keep rising until 2040.

Some 20 years ago, the German Greens and Socialists, who were in power, promised green energies, primarily from wind and sun, would be cheap, plentiful and clean in the future. In 2004, then Environment Minister Jürgen Trittin (Green Party) even promised that green energy wouldn’t rise more than the cost of a single scoop of ice cream per month. A fairy tale.

Since then, electricity prices have skyrocketed. A typical German household is now paying nearly 1,800 euros annually:

Today, Germany’s energy costs are among the highest in the world, and there’s no relief in sight. Moreover, the majority of Germany’s total energy needs still remains supplied by fossil fuels, like coal, natural gas and petroleum.

40 cents a kwh