Despite a challenging year worldwide, a record EUR 17.7 billion were invested in Germany's renewable energies industry in 2009. This ensured the industry's continued growth despite the economic downturn. Germany Trade & Invest representatives will present the latest developments in renewable energies at this year's Green Energy Expo in Daegu, Korea, from April 7 - 9.
In 2009, electricity from renewable sources increased to 16.1 percent of the total share. Germany has the largest market for renewable energies in the world, which continues to grow. With investments of EUR 9.6 billion, the photovoltaic industry attracted the highest share of investments. With new photovoltaic installations in 2009 likely exceeding 3.0 GW, Germany accounted for roughly 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 locally-produced high-quality photovoltaics.
Renewable energies companies consistently choose Germany as a base. In addition to the framework provided by the EEG, Germany's proximity to growth markets in Europe and the dense network of manufacturers, suppliers, and researchers creates an optimal business infrastructure to support innovative products and processes. And with decades of experience in renewables, Germany's workforce provides know-how that is difficult to match. Currently over 300,000 workers are employed in the industry.
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.