PHOTON: Germany Ideal Hub to Serve 100 Percent Renewable Europe

BERLIN and STUTTGART, Germany, April 27, 2010 /PRNewswire/ — 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