Most of Germany's energy demand can be met through renewable sources by 2050 but this is dependent on agreeing ambitious, multi-billion euro expenditure, according to the conclusions of a government-commissioned report into the country's future energy policy.

Environment Minister Norbert Roettgen and Economics Minister Rainer Bruederle, who jointly presented the findings of the report in Berlin Monday, said all of the several scenarios the report has drawn up project that Germany can meet its climate protection targets if it increases the use of renewable energies, improves energy efficiency and modernizes its energy infrastructure.

To achieve the goals, however, massive investments by both private and public sectors will be required.

In a further scenario, which assumes more or less business as usual along the lines of existing energy policy, Germany would probably miss its climate protection targets, the report said.

Germany plans to reduce greenhouse gas emissions 40% by 2020 and at least 80% by 2050 compared with 1990 levels.

Roettgen and Bruederle also said the study argues for the longer use of nuclear energy to assist in reaching these goals.

"The appraisal shows that extending the lifespan will lower CO2 gas emissions," said Bruederle.

"For example, in 2030 with a lifespan extension of 20 years, emissions would be 66 million [metric] tons lower than with an extension of just four years," he said, adding this would be 60% fewer emissions than with a four-year extension.

Germany is in the process of gradually phasing out all its 17 nuclear reactors by around 2022, but the government has said it plans to extend their operating lives to help achieve its ambitious climate-protection targets. Chancellor Angela Merkel said over the weekend that an extension of nuclear lives by between 10 and 15 years would be "reasonable."

The government is due to make a decision about longer nuclear lives on Sept. 28 when the cabinet will vote on a roadmap for energy policy.

However, Monday's report also says considerable investment in plant safety and modernization would be required if nuclear reactor lives were to be extended.

Such additional investment in reactor safety measures would come on top of the government's plan to generate net proceeds of EUR2.3 billion a year from 2011 by taxing nuclear fuel rods, which Germany's nuclear reactor operators--E.ON AG (EOAN.XE), RWE AG (RWE.XE), EnBW Energie Baden-Wuerttemberg AG (EBK.XE) and Vattenfall Europe AG--have warned could make reactors unprofitable and hasten the country's exit from atomic energy generation.

Monday's report also stressed the importance of improved energy efficiency to help reduce demand and dependence on energy imports.

"Energy efficiency is key: more efficient consumption halves energy demand by 2025," the ministries said in a joint press release.

Most potential in energy efficiency lies in the modernization of buildings, according to the report. A thorough renovation of all existing buildings in Germany could reduce energy consumption by around 80% by the middle of the century, it said.

The report also said electricity consumption from private households, industrial and commercial customers could decline by up to 28% by 2050 if energy efficiency improves.

The authors of the report are the Institute of Energy Economics at the University of Cologne , economic research institute Prognos and the Institute of Economic Structures Research .

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