BERLIN and SAN FRANCISCO, July 9, 2012 /PRNewswire/ -- Solar power accounted for 10 percent of Germany's total electricity production in May, an increase of 40 percent from the previous year, as reported by the Federal Association of the Energy and Water Industry. The significant jump stemmed from heightened capacity complemented by sunny days. This surge in green power generation reveals that the nation is well on its way to expanding the proportion of renewables in the energy mix. The strong market is paving the way for new foreign investors such as bSolar, an Israel-based solar PV cell company. Solar industry experts from Germany Trade & Invest (GTAI) will be at booth #7635 at the Intersolar North America Exhibition in San Francisco from July 10-12 to discuss opportunities within the sector.
"Germany's decision to replace nuclear energy with other sources is proving to not only be possible, but is creating many valuable prospects for the renewables sector. The continued strength of the solar market has sparked greater investment from abroad," stated Tobias Homann, photovoltaic industry expert from Germany Trade & Invest in Berlin.
With the support of GTAI, bSolar established a plant in Heilbronn that produces high-efficiency bifacial cells. Its decision to invest in Germany reflects the country's longstanding status as the world's key PV market. The rooftop cells have the ability to produce more electricity at lower costs.
"Germany is one of the largest producers of PV technology as well as the biggest consumer of per capita solar energy worldwide," said Dr. Yossi Kofman, Co-founder and CEO of bSolar. "Strong demand partnered with a highly skilled workforce, intensive R&D and a political framework supportive of renewables make Germany an obvious point of investment," Kofman continued.
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.
SOURCE Germany Trade & Invest