World Energy Congress Rome: Germany on Fast Track to Becoming Global Leader in Renewable Energies

World Energy Congress Rome: Germany on Fast Track to Becoming Global Leader in Renewable Energies

November 09, 2007

    ROME, Nov. 9 /Xinhua-PRNewswire/ -- The World Energy
Congress brings together figures in the energy industry,
including producing and consuming countries, international
organizations, and industry representatives. Germany's
inward investment promotion agency, Invest in Germany, will
be there to underscore the country's ongoing support for
investment in the renewable energies sector. The congress
begins Sunday, November 11th.

    Germany is one of the world's leading players in
renewable energies. It is the largest market in
photovoltaics (PV), wind energy, and biodiesel and hopes to
be the number one country in renewable energies by 2020.

    Recent data show that Germany is on the right track to
meet this goal: In 2006, the renewable energies industry
booked sales of nearly EUR23 billion, earned over EUR6
billion in exports, and accumulated investments of over
EUR9 billion.

    Germany shows that a combination of industrial
innovation and smart policy decisions can reconcile the
needs of the environment with those of the economy. The
Renewable Energies Act of 2000 has helped turn Germany into
a home for many leading renewable energy companies. The
law's "feed-in tariff" requires utility companies
to purchase power generated from renewable sources at a set
price, above the market price, over a 20 year period.

    Further legislative development is encouraging new
investments. For example, General Electric (GE) recently
announced that it plans to expand its operations in
Germany. One reason for this decision is the German
government's initiative for Combined Heat and Power (CHP).
CHP refers to the principle of using a heat engine to
generate both electricity and useful heat, lowering energy
costs for end-users as well as improving energy efficiency.
The German government recently announced that it was
implementing legislation aimed at doubling the share of CHP
in electricity generation to 25% by 2020. The corresponding
availability of investment grants and subsidies shows that
the German government's support for renewables is keeping
up with advances in the field.


    Media Contact:

    Eva Henkel
    Invest in Germany
    Phone: [phone]
    Fax:   [phone]
    Email: [e-mail]
    http://www.invest-in-germany.com