Photon: Germany Ideal Hub To Serve 100 Percent Renewable Europe

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27th April 2010, 11:49am - Views: 664






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MEDIA RELEASE PR39271


PHOTON: Germany Ideal Hub to Serve 100 Percent Renewable Europe


BERLIN and STUTTGART, Germany, Apr. 27 /PRNewswire-AsiaNet/ --


    A new McKinsey study confirms the feasibility of electricity

from 100 percent renewable energy sources in Europe by 2050. Germany's

industry is an optimal hub to reach this market. The country's experienced

workforce and dense network of manufacturers, suppliers, and researchers

already helps companies from across the globe to succeed in the European

market. Germany Trade & Invest will have representatives at this year's

Photon Expo in Stuttgart, Germany, from April 27 - 29 to support companies

looking to establish a business in Germany.


    Germany has one of the largest markets for renewable energies

in the world, which continues to grow. In 2009, electricity from renewable

sources increased to 16.1 percent of the total share. The attractive domestic

market as well as access to growing markets in Eastern and Western Europe

makes Germany an ideal business location for international players in

renewable energies.


    The photovoltaic market continues to set the bar for Europe

and the world. With new photovoltaic installations in 2009 exceeding 3.8 GW,

Germany accounted for more than half of the world's solar market for the

year. Despite this growth, the market is nowhere near saturation. Only 2

percent of rooftops suitable for solar modules are currently covered, leaving

ample market opportunities.


    This year marks the ten-year anniversary of the landmark

Renewable Energies Act (EEG), which continues to act as the driver for the

German market. The proposed restructuring of the photovoltaic feed-in tariff

of the EEG in the coming months will likely continue to foster the

development of the rooftop market, which caters to private users who

overwhelmingly prefer high-quality systems. This preference will ensure the

continued demand for high-quality photovoltaics.


    The new feasibility study, conducted by McKinsey and published

by the European Climate Foundation, was commissioned to examine the

feasibility of achieving the European Union goal of an 80 percent greenhouse

gas reduction by 2050 compared to 1990 levels. The study found that 100

percent renewable energy is not only feasible, but can also be reliable and

economically priced. Many of the largest utilities and conventional energy

providers in Europe took part in the study as well.


    Germany Trade & Invest is the foreign trade and inward

investment promotion agency of the Federal Republic of Germany. The

organization advises foreign companies looking to expand their business

activities to the German market. It provides information on foreign trade to

German companies that seek to enter foreign markets.

    

    Germany Trade & Invest

    Eva Henkel

    Email: eva.henkel@gtai.com

    T: +49(0)30-200099-173

    F: +49(0)30-200099-111


    SOURCE: Germany Trade and Invest


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