DGAP-News: Phoenix Solar Aktiengesellschaft: appropriate pricing of photovoltaics would reduce the charges passed onto electricity consumers
(firmenpresse) - Phoenix Solar Aktiengesellschaft / Key word(s): Miscellaneous
03.11.2010 10:00
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Phoenix Solar AG: appropriate pricing of photovoltaics would reduce the
charges passed onto electricity consumers
*Phoenix Solar requires changes to be made in the calculation of cost
allocation under the German Renewable Energies Act (EEG) to reduce the
charges passed on to electricity consumers
* Stock exchange prices are not suitable benchmark for calculating
photovoltaic electricity
*In 2010, the macro-economic benefits of photovoltaics will exceed the cost
of feed-in tariffs for the first time
Sulzemoos, 3 November 2010 / Phoenix Solar AG (ISIN DE000A0BVU93), a
leading photovoltaic system integrator listed on the German TecDAX, today
presented 'The True Value of Photovoltaics in Germany' study on the
calculation of the differential cost of photovoltaic electricity and the
costs and benefits of photovoltaics. The intention of this study is to
present an objective standpoint on the as yet very emotional debate on the
charges from photovoltaics borne by electricity consumers.
The findings of the study carried out by A.T. Kearney, a consultancy
company highly experienced in energy issues, focus on four key statements:
1. The stock market price on the Leipzig-based European Energy Exchange is
unsuitable as a benchmark for pricing photovoltaic electricity. In effect,
photovoltaic electricity substitutes for peak- and medium-load power
stations run on gas and hard coal in the power grid. This is why the full
costs of these fossil-based sources of energy should be compared with the
costs of photovoltaics. A mere adjustment in the calculation reduces the
charges levied for photovoltaics in 2011 by up to 18 percent, namely from
1.67 cents per kilowatt hour (ct/kWh) down to potentially 1.38 ct/kWh. If,
in 2011, the volume of systems installed comes to six gigawatts rather than
the 9.5 gigawatts anticipated by transmission grid operators, charges would
be as much as 24 percent lower and come to 1.28 ct/kWh.
2. Macro-economic breakeven for the installed output of photovoltaics will
have already been achieved by the end of 2010, which means that the
benefits of photovoltaic systems installed in 2010 will outweigh the costs
for the first time. Furthermore, by the end of 2011, all photovoltaic
systems connected to the grid under the German Renewable Energies Act (EEG)
since 2000 will have reached breakeven in Germany if, in line with
assumptions, another six gigawatts (GW) of peak power are installed in
2011.
3. Measured against new gas- and hard coal-fired power stations,
photovoltaics will be able to deliver competitive electricity in the next
five to eight years. A precondition is a fair recognition of costs for both
photovoltaics and for power stations generating electricity from
conventional sources of energy. From this point onwards, tax plus grid
costs can be levied on photovoltaic electricity, similar to conventional
power.
4. Photovoltaics accelerates the structural transition to an efficient,
intelligent world of energy with a high proportion of decentralised power
generation. Photovoltaics therefore enables wide swathes of the population
to participate in the supply of energy. In addition, it generates impetus
for the development of innovative, decentralised energy systems and
integrated applications, such as charging stations for electrical vehicles,
which underpin Germany's technological cutting edge in the field of
renewable energies.
Phoenix Solar has derived the following requirements and recommendations
from the findings of the study:
*The basis for calculating the differential costs must be adjusted to the
actual conditions pertaining to the respective type of power generation.
The cost of photovoltaic electricity must be compared with the electricity
which it replaces at production times in the grid, specifically electricity
generated by gas and hard coal-fired power stations. The result would be a
notable reduction in the differential costs, which means that electricity
consumers would pay much less.
*A paradigm shift in the allocation of costs of conventional and renewable
energies reflecting where these costs are incurred is necessary.
'Our long-standing doubt about the accuracy of how the differential costs
has been calculated up until now has been confirmed through the findings of
the study', stated Dr. Andreas Hänel, Chief Executive Officer of Phoenix
Solar. 'Our intention with this study is to encourage the urgently needed
discussion about the true value of photovoltaics.'
'It came as a surprise to us that the combination of sharp reductions in
tariffs and the high volume of installed capacity in 2010 has enabled
breakeven to be exceeded in Germany. Particularly against the background of
the sharp criticism of government promotion under the German Renewable
Energies Act (EEG), photovoltaics demonstrates its ability from an economic
standpoint of contributing to the sustainable generating of electricity in
Germany', explained Jochen Hauff, leading author of the A.T. Kearney study.
More information and a summary of the study and charts:
www.phoenixsolar.com/press/surveys
This is an English translation of the German original. Only the German
version is binding.
______________________
About Phoenix Solar AG
Phoenix Solar AG, which has its headquarters in Sulzemoos near Munich, is a
leading international photovoltaic system integrator. With total revenues
of EUR 473 million, the Group achieved an EBIT of EUR 12.2 million in the
financial year 2009. The company develops, plans, builds and takes over the
operation of large-scale photovoltaic plants and is a specialist wholesaler
for complete power plants, solar modules and accessories. The Group is a
leader in photovoltaic system technology. It focuses on the consistent
lowering of system costs. With a sales network throughout Germany and
subsidiaries in Spain, Italy, Greece, France, Singapore, Malaysia, Oman,
Australia and the USA, the Group currently has a workforce of more than 350
employees. The shares of Phoenix Solar AG (ISIN DE000A0BVU93) are listed on
the official market (Prime Standard) of the Frankfurt Stock Exchange and on
the German TecDAX, Deutsche Börse AG's technology index.
Contact:
Phoenix Solar AG
Anka Leiner
Investor Relations
Hirschbergstraße 8
D-85254 Sulzemoos
Tel. +49 (0) 8135 938-315
Fax: +49 (0) 8135 938-399
a.leiner(at)phoenixsolar.de
www.phoenixsolar.de
Local Court of Munich
HRB 129117
03.11.2010 10:00 Dissemination of a Corporate News, transmitted by DGAP -
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Language: English
Company: Phoenix Solar Aktiengesellschaft
Hirschbergstraße 8
85254 Sulzemoos
Deutschland
Phone: +49 (0)8135-938-000
Fax: +49 (0)8135-938-099
E-mail: kontakt(at)phoenixsolar.de
Internet: http://www.phoenixsolar.de
ISIN: DE000A0BVU93
WKN: A0BVU9
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Hamburg, München (m:access), Düsseldorf, Berlin,
Stuttgart, Hannover
End of Announcement DGAP News-Service
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Datum: 03.11.2010 - 10:00 Uhr
Sprache: Deutsch
News-ID 32475
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
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