BERLIN AND SEATTLE, June 7, 2011 /CNW/ - Germany's government last week
confirmed a complete nuclear phase-out by 2022, paving the way for an
accelerated shift to renewable energy. This will require major
investments in the electricity grid and energy storage technologies.
Germany is already pursuing solutions, with several model regions
developing new industry standards. These activities create excellent
business opportunities in the German market. Germany Trade & Invest is
hosting an event on June 8 in Seattle to share the latest developments
and investment opportunities in Germany, especially in the growing
"Smart energy management is a key component of our future energy supply.
With one of the world's leading renewable energy industries and a
highly innovative IT sector, Germany is in an outstanding position to
take the lead globally. Investors benefit from excellent conditions
here," said Dr. Juergen Friedrich, Chief Executive of Germany Trade &
Invest in Berlin.
Germany already boasts 17 percent renewable electricity from sources
like wind and solar power, which do not have a base load. A large
fluctuating energy supply requires smart grids and energy storage to
balance supply and demand, which can be achieved by shifting
consumption or storing energy for later use. Software and IT solutions
are a key component for the advancement of smart energy management.
A first-rate telecommunications and electricity grid is a prerequisite
for the expansion of smart metering and grid technologies. Germany
receives excellent marks in this area. In its 2010 Global Performance
Index, the World Economic Forum ranked Germany's telecommunications and
transportation infrastructure first worldwide. Partial credit goes to
massive infrastructure investments in eastern Germany since
reunification in 1990.
Germany has six model regions that receive funding for the development
of different aspects of future smart grid technologies and standards.
The Regenerative Model Region Harz (RegModHarz), for example, is
developing a virtual power station that groups renewable power
generators, consumers and energy storage facilities to prove that
stable, reliable and consumer-oriented electrical power is achievable
from renewable sources.
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
in the German market. It provides information on foreign trade to
German companies that seek to enter foreign markets.
SOURCE Germany Trade and Invest
For further information:
Germany Trade & Invest