Through its sixth Energy Research Program, the German government has made around $275 billion available for joint funding initiatives in energy storage research for the next three years. Renewable energy sources are expected to account for 35 percent of the country?s energy output by 2020, and as much as 80 percent by 2050. Germany currently produces 20 percent of its energy from renewable sources; this figure was only 6 percent in 2000.

Germany Trade & Invest CEO Jurgen Friedrich praised the new facility: Germany has established the ideal prerequisites for the rapid development of the energy storage industry. The unique combination of renewable energy generation, innovation and implementation through such projects makes Germany an optimal location for companies looking to enter this budding industry, he said.

Earlier this month KfW said the ongoing European debt crisis represented a "dramatic barrier" to financing for clean-energy projects. Speaking at a conference in Berlin, KfW CEO Ulrich Schroeder said ?a healthy banking system? was needed to fund large-scale renewable energy projects.

KfW last year provided? 25.3 billion ($35 billion) for renewable energy and energy-efficiency projects throughout the world, according to Schroeder. Last August the lender was nominated the world?s safest bank by Global Finance Magazine.

Resource: www.electrical-efficiency.com/2011/11/financial-backing-german-green-energy-projects/

9th paper on 4th month: The improvement of Germany to become World's Most energy-efficient country