Germany Powering Ahead in Renewable Energy, Invest in Germany Claims
Posted on: Monday, 12 November 2007, 12:00 CST
German inward investment promotion agency Invest in Germany has released figures that it claims show that Germany is on track to meet its target of being the world leader in renewable energy production by 2020.
According to the investment promotion agency, Germany is one of the world's leading players in renewable energies. It is also the largest market in photovoltaics, wind energy and biodiesel.
In a press release, Invest in Germany also cited recent data that shows that, in 2006, the German renewable energies industry booked sales of nearly E23 billion, earned over E6 billion in exports, and accumulated investments of over E9 billion.
The firm said that the German government recently announced that it was implementing legislation aimed at doubling the share of combined heat and power in electricity generation to 25% by 2020. The corresponding availability of investment grants and subsidies shows that the government's support for renewables is keeping up with advances in the field, the firm claimed.
Source: Datamonitor
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