Germany's Rising Share of Renewable Energy Sources Boosting Energy Storage Segment

BERLIN, September 28, 2011 /PRNewswire/ --

Batteries 2011 in Cannes

Over 20 percent of Germany's total energy mix is from renewable sources and this share continues to rise, according to recent estimates.  The growth in the energy supply calls for innovative storage technology which has spurred the development of battery and smart grid technology in Germany. Germany Trade & Invest representative will be present at this year's Batteries 2011 which will be held on September 28-30 in Cannes to present opportunities in Germany's battery market.

Germany is the world's strongest photovoltaic market and also accounts for Europe's largest share of installed wind capacity. By 2020, renewable energy sources are expected to account for 35 percent of Germany's energy mix and reach 80 percent by 2050.

Building on this foundation, the German government devised an energy concept with an extensive legal and R&D framework in order to facilitate the development and the commercialization of energy storage technologies for mobile and stationary application.

Jürgen Friedrich, Chief Executive of Germany Trade & Invest: "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."

Energy storage, grid technology, and the integration of renewable energies into the energy supply are among the critical elements in the German government's 6th Energy Research Program. As a result, 200 million EUR have been made available for joint funding initiative in energy storage from 2011-2014. The first call for proposals was made in July of this year. Foreign investors spanning the value chain can benefit by gaining important first-mover expertise and by partaking in joint R&D efforts with German and international partners.  

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.

Media Contact:
Andreas Bilfinger
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Andreas.Bilfinger@gtai.com
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