Solar energy production in Germany grows 60% Y/Y in 2011
Dec 29, 2011 - German solar power plants produced over 18 billion KWh of clean electricity in 2011, which is 60% more as compared with the previous year, German Solar Industry Association (BSW-Solar) reported on Wednesday.
Solar energy thus covered around 3% of the German electricity consumption, the association said.
The strong increase in production of solar power was mainly boosted by the significantly higher oil and gas prices as well as by the considerable decline in solar technology costs, BSW-Solar said. The prices for turnkey solar power plants have more than halved since 2007.
German solar companies, on the other hand, are currently struggling with the strong price pressure, over-capacities as well as strong competition from China. Solar technology companies Solar Millennium AG (ETR:S2M) and Solon SE (ETR:SOO1) filed for insolvency in December, raising concerns that other sector firms may follow.