European renewable energy revenues is expected to double size of market

Increasing awareness about renewable energy and favourable government legislations such as the Directive on Renewable Energy Sources (RES) are expected to drive the European renewable energy market.

New analysis from Frost & Sullivan European Renewable Energy Market – Investment Analysis and Growth Opportunities shows this market earned E8.89billion in 2005 and estimates this to reach E14.54billion in 2010.
While strategising for this market, energy companies will have to take into account several issues including huge initial capital outlay, development of new transmission and distribution lines, rising export demand and high prices of raw materials. In the solar energy segment, not only are the raw materials prohibitively priced, but are also in short supplies.

“However, solar companies may overcome the shortage of raw materials by undertaking backward integration,” notes Sundaram. “This tactic will help them become one of the fastest growing renewable energy sources in Europe for the next 20 years.”

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