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



    ROME, Nov. 9 /CNW/ - 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.





For further information:

For further information: Eva Henkel, Invest in Germany, Phone:
+49-30-200099-173, Fax: +49-30-200099-111, Email:
henkel@invest-in-germany.com, http://www.invest-in-germany.com

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