The German solar energy industry allocated over Euros 7 Billion for investment in next three years and is anticipated to grow double in terms of sales by 2010.
The German Solar Industry Association (BSW) said that the solar energy industry of Germany allocated over Euros 7 Billion for investment in next three year (2008-2010) and is expected to record a two-fold rise in sales by 2010, as reported by REUTERS.
BSW also revealed that the solar industry sales are expected to cross Euros 13 Billion by 2010 against Euros 7 Billion in 2007, with around 50% share anticipated to come from the global market. The industry installed nearly 200,000 solar panels across the country in 2007 to produce electricity and heat, taking the total number of solar panels to 1.5 Million.
The growth in the German solar industry is contributed by escalating demand for green and clean energy in the country. Further, with crude oil prices touching a record high, the government of Germany is increasingly supporting the use of alternative energy generation sources. Besides, the sales of solar equipment surged on the back of declining solar prices. Also, the fall in prices of solar power systems giving them support to compete with energy generated through fossil fuels.
Furthermore, the solar energy sector in Germany might see strong growth in future because subsidies would be given for smaller cuts than anticipated. And the sector is poised to consolidate in coming years, as it is a vital next step in its development that is going to provide strong boost to the industry. Also, the Renewable Energy Source Act (EEG) is providing fixed feed-in compensation for twenty years, making investment strong and attractive in economic terms.
In addition, the German solar energy sector is making full use of tried and true industry model in which specialized and small players come up with advanced and revolutionary technologies and take big risks. The solar energy industry has reached almost maturity level where more cases of acquisitions and mergers by large companies taking over mid to large companies are likely to be seen, creating more opportunities for the German industry.
According to a Research Analyst at RNCOS, “The rapidly growing German solar energy sector should intensify efforts to give boost to large and specialized solar companies. The solar energy will gain popularity as commercial and private developers as well as architects and planners both work as a decentralized energy source.”
Related Market Research Reports:
Photovoltaic Industry Analysis and Forecast
Indian Power Sector Analysis
Fuel Cell Industry Analysis
