Solar Boom Presents Huge Opportunities in Germany

A recent study by Germany’s Fraunhofer Institute indicated that solar energy is set to become cheaper worldwide than energy produced by gas or coal-fired power stations at some point very soon. Research firm Mercom reckons global solar installations will reach 64.7 GW in 2016, representing a 13% year-on-year growth in the global market. With Germany’s Energiewende and associated innovation research an integral part of both the increased competition and increased efficiency contributing to the price falls, Europe’s leading solar market will continue to play a crucial role in determining the future direction of solar energy, along with many other associated Cleantech industries.

At a business lunch in Phoenix on Thursday hosted by Germany Trade & Invest, investors in Cleantech industries will get a chance to learn from industry experts from Germany and Arizona the current status, future trends and investment opportunities in the U.S. and German energy market. Testimonials will be provided by American investors who have successfully set up business in Eastern Germany. “There are German companies along the entire value chain in the solar industry,” said Peter Alltschekow, Director Eastern Germany at economic development company Germany Trade & Invest. “The Eastern states of Germany are developing a proven reputation for harboring young German research and production innovation firms, while the states themselves are fantastic production locations, geographically well-placed, cheap in terms of facility development, and well-stocked with know-how and good labour markets.