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Business

German Solar Industry Records Robust Growth

The German solar industry doubled its production in 2003 as compared to 2002 and is hoping for a similar growth this year. According to a report presented in Berlin on Friday, the industry raised production from 38 megawatts in 2002 to 83 megawatts in 2003 and is forecasting a growth of 180 megawatts for the current year. The turnover of the solar branch including trade and manufacturing amounted to around €750 million ($916 million), up from €500 million in 2002. The industry is hoping to cross the billion mark in revenue for the first time this year. The report said that the solar technology sector employed around 12,000 people last year, making Germany the second-most important player on the global photovoltaic market after Japan.