Germany: Make Renewable Energy Investments Here

World renewable energy leaders are gathering in Chiba, Japan for “Renewable Energy 2007,” an industry convention that brings together executives, engineers and researchers from October 10-12th, 2007. Invest in Germany, the country’s investment promotion agency, will be at Renewable Energy 2007 to present advantages of Germany’s renewable energies market.

In 2006, renewable energies and resources in Germany booked sales of €22.9 billion [US $32.4 billion], exports of over EUR6 billion [US $8.5 billion], and accrued investments of over €9 billion [U.S. $12.7 billion].

One major reason for Germany’s leading role in renewable energies is the country’s Renewable Energies Act (EEG in German). The law requires energy companies to purchase power generated from renewable sources at a price that is set above the market price.

According to a press release issued by Invest in Germany, in 2006, the PV industry added 1,150 peak megawatts (MWp) of new capacity, increasing total PV installed capacity to 3,060 MWp. The promotion agency also says that the country is the largest wind energy market worldwide with 20,661 MW and sales of €5.6 billion (US $7.9 billion).

Investments of up to €13 billion (US $18.4 billion) are expected by 2012. Biodiesel also generated €2.5 billion (US $3.5 billion) in sales in 2006. Its projected investment total for 2012 is €16 billion (U.S. $22.6 billion).

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