Berlin - High revenue growth expectations make the American renewable energy industry an engine for employment growth: 87% of businesses already plan to hire additional employees in the current year. The fast paced growth of this young industry, however, also causes challenges, and generates strong American interest in German technology and expertise. These are some of the key findings of a survey conducted by the German American Chambers of Commerce and Roland Berger Strategy Consultants among 300 companies in the US-renewable energy sector.
The survey was conducted in preparation for the 2nd German American Energy Conference which opened in Berlin today. Those surveyed included American companies as well as US-subsidiaries of German firms with operations in one of the key sectors, wind, solar, and bio-energy or energy efficiency. Over the past ten years, German companies have entered the booming US-market in growing numbers and consider their expansion successful: 72% of respondents indicated that their expectations for the US-market have been met.
When it comes to the political framework and consumer education of the US-market, both German and American businesses surveyed see potential for improvement. The establishment of national renewable energy standards and better education of end-users on real energy costs and new technologies rank highest on their list. US-companies additionally named credit and funding issues among their current key challenges, which translates into strong competition and high cost pressure for the German suppliers.
Decades of experience with innovative solutions in environmental technologies make German companies particularly attractive partners for their US-counterparts. One third of American firms surveyed in the sector already collaborate with German peers, and 70% of these partnerships have been forged within the last five years. According to the survey, the number of transatlantic business ties will grow even further as 40% of US-companies are currently interested in finding German partners; of which a majority is looking for innovation partners.
„This is an important signal for us as a representative of German business in the United States and reinforces our strong focus on the renewables and energy efficiency industry,” commented Simone Pohl, President and CEO of the German American Chamber of Commerce of the Midwest in Chicago. According to Juergen Reers, Managing Partner for Roland Berger Strategy Consultants of North America, the US offers considerable potential for companies in the renewable energy industry. ”About one-third of the businesses surveyed throughout the wind, solar, bio-energy and energy efficiency fields expect annual growth rates of over 10% in 2010 and the next four years.” The fact that a majority of companies indicated that they currently feel restrained by the poor overall economy makes this optimism even more noteworthy.
The complete results of the survey were officially presented today at the 2nd German American Energy Conference in Berlin, Germany. This event is organized by the German American Chambers of Commerce (GACCs) and the German Energy Agency GmbH (dena). During the two-day conference, high-ranking politicians and industry experts from both sides of the Atlantic are welcomed at the House of German Business in Berlin.
The 2nd German American Energy Conference is generously funded by the Federal Ministry for Economics and Technology (BMWi). Solar Millenium AG is the Premium Sponsor. The conference is supported by the Association of German Chambers of Industry and Commerce (DIHK) and the Federal Foreign Office with the Transatlantic Climate Bridge, as well as by the Federal Ministry for the Environment, Nature Conservation, and Nuclear Safety (BMU), the Federation of German Industries (BDI), and Germany Trade and Invest.
The media partner for the event is the publisher, Energie & Management. The environmental impact of this conference has been offset through a cooperation with “atmosfair.”
