ROME, Nov. 9 /Xinhua-PRNewswire/ -- 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.
