Published on : Feb 22, 2016
Germany has set a notable example in the global renewable energy market by continuously driving efforts in this sector. Recently, Germany announced that it has produced a surplus of renewable energy. Furthermore, this nation is also called as the world’s first major renewable energy economy as consumers in the country use renewable energy for transport, power, and heating.
In the past few years, Germany has expanded rapidly in the clean energy market and this sector presently contributes almost to one-fourth to the country’s energy mix. Moreover, the nation has set a goal to generate around 35 per cent of its electricity using renewable sources by the end of 2020 and by 2050, it aims to generate 100 per cent of its power using renewable sources. Let us look at the trends in key clean energy segments that are shaping the renewable energy market of Germany.
Solar Power Sector
Germany is the biggest solar market in the world and also the leading PV installer. At present, the nation had a solar PV capacity of more than 30 gigawatts. Furthermore, these installations are growing rapidly each year. This trend is significantly driving the overall renewable energy market of Germany. The nation receives its 5 per cent of the annual electricity from solar alone.
Wind Power Sector
The wind energy sector in Germany is one of the largest in the world. This sector is marked by technological innovation and more than half of the turbines in the country are owned by farmers, local residents, and local authorities. This trend has propelled the acceptance of wind turbines significantly in the local communities of the nation as they provide a direct profit. Germany is also the European region’s primary wind energy market and accounts for 30 per cent of the total installed capacity in the region and globally it represents over 10 per cent of the installed capacity.
Biomass Energy Sector
Germany is witnessing rapid development in the biomass energy sector as well. Approximately 5 per cent of the total electricity generation in the nation comes from biomass energy. Moreover, Germany is leading the biogas technology and the region’s dominant biogas producer.
Another trend driving the Germany renewable energy industry is the growing number of investments. In 2011, Germany stood out as the world’s third largest market for renewable energy in terms of investment.