Transformation of the German Renewable Energy Market due to the Crisis of 2022-2023

Macroeconomic shocks have for a long time had a significant impact not only on the electricity sector, but also on all sectors in Germany as a whole. Today, renewable energies play an important role in reducing the economy's dependence on external challenges, especially for Germany. Despite the fact that Germany is one of the world leaders in the development of renewable energy sources and their integration into the national electricity sector, this market has entered a state of uncertainty under the influence of the energy crisis of 2022-2023. As a result, the German government took decisive measures and made appropriate adjustments to its energy policy to ensure the stability of the market and the country's energy system as a whole. This study aims to analyze the impact of the 2022-2023 crisis on the renewable electricity market and identify its future development prospects. The relevance of the work lies in: first, in the significant impact of the energy crisis on the current electricity market conditions; second, in the lack of study of this issue due to the relatively short past post-crisis period of time. Qualitative and quantitative statistical analyses became the key tools to achieve the set objectives. The most important of the methods is the use of the ARIMA-GARCH model to analyse and forecast the electricity price vector in Germany.