Sunday, January 22, 2012

Germany Sets Aside $130 Billion for Renewable Energy

By John C.K. Daly

Germany is already the world's strongest photovoltaic market and also accounts for Europe's largest share of installed wind capacity. Moving resolutely into the field of renewable energy, by 2020, renewable energy sources are expected to account for 35 percent of Germany's energy output, soaring to 80 percent by 2050. Germany now produces 20 percent of its electricity from renewable energy sources, now, up from just 6 percent in 2000. The effort is in turn creating thousands of jobs and new industries.
Industry expert Tobias Homann observed, "With the decision to abandon nuclear power earlier this year, it was clear that the road ahead would be challenging. But Germany is in a very promising position to be the first industrialized country to rely entirely on renewable energy."
One of the current major shortfalls of the renewable energy market is its inability to store generated energy but Germany is working on this dilemma, focusing on the development of battery and smart grid technology.
According to Germany Trade & Invest CEO Jurgen Friedrich, "Germany has established the ideal prerequisites for the rapid development of the energy storage industry. The unique combination of renewable energy generation, innovation and implementation through such projects makes Germany an optimal location for companies looking to enter this budding industry."
Germany is also assiduously pursuing improving solar technology. Germany's photovoltaic installations and solar facilities recently surpassed hydropower in Germany's total energy generation matrix.
In the area of offshore wind power generation, Germany projects 4,000 turbines off its Baltic coast producing electricity by 2030. Germany's northeastern Mecklenburg-Vorpommern state on the Baltic will produce 100 percent of its electricity from renewables by 2015-2017, and then export the excess to other German states. Mecklenburg-Vorpommern premier Erwin Selling told reporters, "Renewable energy has become extremely valuable for our state. It's just a great opportunity - producing renewable energy and creating manufacturing jobs.
 
A wind tower near Dortmund, Germany

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