DGAP-News: S.A.G. Solarstrom AG: Cutbacks jeopardize the energy turnaround
(firmenpresse) - DGAP-News: S.A.G. Solarstrom AG / Key word(s): Miscellaneous
S.A.G. Solarstrom AG: Cutbacks jeopardize the energy turnaround
23.02.2012 / 16:49
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S.A.G. Solarstrom AG: Cutbacks jeopardize the energy turnaround
Freiburg, February 23, 2012. S.A.G. Solarstrom AG (German security
identification number: 702 100, ISIN: DE0007021008) is sharply attacking
the plans put forward by the Federal German government to drastically
reduce the feed-in tariff from March 9. S.A.G. Solarstrom AG's employees
are protesting today in Freiburg against the plans. In 2011, the solar
industry demonstrated a high level of innovative capability and cost
degression. Grid parity at household electricity prices was achieved in
2012, and it is anticipated that grid parity at the industrial electricity
price of around 15 Eurocents will be reached in 2014. However, with the
planned cutbacks, the Federal German government is completely choking the
German market, which is viewed as a highly regarded global role model for
renewable power generation. It is thus jeopardizing the agreed upon energy
turnaround and jobs in Germany. It is not comprehensible how the advantages
of a localized, grid-stabilizing technology can be so rashly ignored and
instead, central models from major energy providers are favorized.
'It is completely incomprehensible to us how the Federal government can
argue these drastic reductions', says Dr. Karl Kuhlmann, CEO of S.A.G.
Solarstrom AG. 'The share of costs of photovoltaics in the Renewable Energy
Act (EEG) levy of consumers continues to decline, but is used again and
again by the energy corporations as a welcome justification for some quite
significant increases in electricity prices. This is complete nonsense. The
Renewable Energy Act levy has increased from 3.53 Eurocents in 2011 to 3.59
Eurocents in 2012, yet the suppliers in Germany increased the electricity
prices by 3.4% on average at the start of 2012, many even higher. The high
portion of renewable energy even had a considerable cost-cutting impact on
the electricity exchanges. Photovoltaics is being made a scapegoat by the
energy corporations in order to expand their own profit margin without any
risks.'
S.A.G. Solarstrom AG is anticipating a significant decline in the market in
Germany as a result of the planned cutbacks. The extent of this decline
depends largely on the further development in prices of the components.
'The German market will lose its global significance with this decision',
says Kuhlmann. 'It is a sad state of affairs for Germany as a business
location that the Federal government wants to turn the statutory framework
conditions for our industry completely upside down within one year. In this
area too, we are experiencing that politics does not set any reliable
framework conditions'.
The protests are absolutely nothing to do with continuing to subsidize
photovoltaics on a permanent basis, Kuhlmann emphasizes. 'The industry is
already in the middle of a transitional phase towards a competitive market.
It is correct to arrange subsidies on a declining basis. However, this must
be carried out in a controlled manner for the companies. These short-term
drastic reductions are slowing down the very positive development of
photovoltaics that we have had up to now. Localized photovoltaics, however,
are an important component in the renewable power supply of the energy
turnaround'.
S.A.G. Solarstrom AG already generates around 60% of its sales abroad and
drove international expansion over the last few years. 'Thanks to our
4-pillar business model, we are in a comparatively position. However, it is
also clear that under these conditions, our growth must be intensified
abroad. In Germany, ground-mounted systems, even those on converted areas,
will become more unattractive for a transitional period. The focus will
tend to be more on roof-top solutions for own consumption. However, that
might change again in the next few years, in line with direct marketing of
green electricity, beyond feed-in tariffs. We will adjust to these changes
in the market', concludes Kuhlmann.
About S.A.G. Solarstrom AG
S.A.G. Solarstrom AG (German security identification number: 702 100, ISIN:
DE0007021008) of Freiburg i.Br., Germany, is a manufacturer-independent
provider of high-quality photovoltaic plants configured to customers'
individual needs. The Group constructs efficient plants of all sizes both
in Germany and abroad. S.A.G. Solarstrom AG also produces solar energy at
its own plants.
S.A.G. Solarstrom AG's service portfolio covers the entire life cycle of
photovoltaic plants, including forecast and energy services, yield reports,
and remote service and maintenance, as well as insurance and financing. The
Group thus offers a comprehensive value chain in photovoltaics, from yield
reports, planning, construction, operations, and monitoring to
optimization, repowering, and deconstruction.
Founded in 1998, S.A.G. Solarstrom AG is considered a pioneer in the solar
industry. Around 240 specialists work at the four locations in Germany and
the foreign subsidiaries.
S.A.G. Solarstrom AG is listed in the Prime Standard of the Frankfurt Stock
Exchange as well as according to the rules and standards M:access of the
Munich Stock Exchange.
Further information: www.solarstromag.com
Contact:
S.A.G. Solarstrom AG
Sasbacher Straße 5
79111 Freiburg
Germany
www.solarstromag.com
Public Relations / Investor Relations
Jutta Lorberg
phone: +49-(0)761-4770-311
e-mail: pr(at)solarstromag.com / ir(at)solarstromag.com
End of Corporate News
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23.02.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: S.A.G. Solarstrom AG
Sasbacher Str. 5
79111 Freiburg
Germany
Phone: + 49 761 4770 0
Fax: + 49 761 4770 555
E-mail: mail(at)solarstromag.com
Internet: www.solarstromag.com
ISIN: DE0007021008
WKN: 702100
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München
(m:access), Stuttgart
End of News DGAP News-Service
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157894 23.02.2012
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