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Solar energy will account for 10% of Germany’s electricity by 2020, according to BSW-Solar, with investment in research and development doubling during this period. The investment will not only increase PV efficiency and output but also help reduce the price of solar-generated electricity for German consumers.
PV currently caters for around 2% of Germany’s electricity needs and the industry’s expansion plans will also boost employment in a sector that already provides jobs for over 150,000 people.
In 2010, Germany’s solar sector nearly doubled in size – dwarfing the expansion rates in rival markets such as Italy, France, Japan, Australia and the U.S.
