Regional energy suppliers in Germany to invest more in renewables

(ADPnews) - Jun 30, 2011 - German local and regional energy providers plan to increase their investments in renewable energy, a survey of professional services firm Ernst & Young shows.

Of all companies polled, 27% defined renewable energy as a top growth priority. On average, the energy suppliers expect renewable energy to account for 35% of their revenues by 2020. They also plan to obtain 55% of their energy from renewable sources by that year.

Fifty-five percent of the respondents plan to invest in onshore wind power and 42% in offshore wind. Thirty percent give preference to photovoltaics (PV) and 23% plan hydropower investments. Biogas and biomass are less popular and are favoured by 20% and 11% of the firms, respectively. Only 6% are willing to invest in solar thermal energy and 4% in geothermal power.

The expansion of renewable energy involves switching from a small number of large-capacity power plants to a bigger number of smaller plants. This decentralisation of electricity production represents a chance for small energy providers as it brings power generation to a local and regional level, Gerd Luetzeler from Ernst & Young said.

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