Germany's solar market doubled targets in 2010, with new installations totaling over 7 GWp and accounting for approximately half of the world market.

BERLIN and GOYANG, South Korea, (PR Newswire Europe via COMTEX) —

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This has led to the recently announced feed-in tariff cuts set for mid-2011, which reflect lower system prices and puts Germany closer to grid parity. With this level of demand attracting foreign investors, representatives from Germany Trade & Invest will be at this year’s Expo Solar and PV Korea from February 16-18, 2011.

“Germany continues to confirm its standing as the largest photovoltaics market worldwide. With record demand every year and growing markets across Europe, it’s not surprising that the world’s biggest players are all located in Germany,” according to Tobias Rothacher, Manager for Photovoltaics at Germany Trade & Invest in Berlin.

Currently there are over 17 GWp of photovoltaic installations across Germany, which is approximately half of all installed solar capacity worldwide. The industry posts an annual turnover of approximately EUR 10 billion and employs over 133,000 workers, making it one of Germany’s most important industries.

“Companies benefit from an experienced workforce and an outstanding infrastructure of equipment suppliers, component manufacturers, developers, banks and installers. These advantages are sure to further strengthen Germany’s attractiveness as an investment location,” Rothacher continues.

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.

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