BERLIN and MUNICH, June 12, 2012 /PRNewswire/ --
Europe is set to dominate the own consumption segment, with growth of up to 150 GWp by 2020. More than half of all installed solar capacity worldwide could be for own consumption by the end of the decade, according to a recent McKinsey study. Germany is already the global frontrunner in solar power, accounting for approximately half of the world's photovoltaic capacity. The country's industry is well positioned for the next growth phase, according to Germany Trade & Invest experts at this year's Intersolar Europe in Munich from June 13-15.
"Those companies who survive the current consolidation wave will experience a bright future. Especially the rooftop segment and downstream business models are expected to drive the industry forward," stated Tobias Rothacher, photovoltaic industry expert at Germany Trade & Invest in Berlin.
The global solar industry is experiencing growing pains as prices and margins continue to fall. At the same time demand is likely to increase by an additional 400 to 600 GWp of photovoltaic capacity worldwide by 2020, according to the McKinsey report "Solar power: Darkest before dawn". Especially the business-to-customer segment for own consumption is creating opportunities for innovative downstream companies that offer comprehensive installation and service packages.
"Germany has supported own consumption of solar power for years. The coming grid parity era is ushering in an era of new business opportunities. We expect Germany to continue to be the top business location, as innovations and industry standards are developed here," continued Rothacher.
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.
Germany Trade & Invest
SOURCE Germany Trade and Invest