The country offers SMEs subsidies of up to 30% for improvements to the efficiency of their manufacturing processes.
BERLIN — Germany has knocked the UK off the top spot to top the the American Council for an Energy-Efficient Economy’s 2014 International Energy Efficiency Scorecard.
The report identifies best practices across 31 key metrics in the world’s largest economies. China tied with France for fourth place, the UK and Japan tied for sixth, and the USA came thirteenth.
The study praised Germany’s comprehensive energy strategy and awarded the country maximum points for its building codes, retrofit policies, and tax credit and loan programs.
“Germany’s commitment to creating a framework that encourages investment in energy efficiency has made it a world-leading market in the field,” says Henning Ellermann, energy efficiency industry expert at Germany Trade & Invest.
Germany’s state development bank’s building renovation loan program stimulated private investments of more than US$46 billion in 2013, government figures show. Germany also offers SMEs subsidies of up to 30% for improvements to the efficiency of their manufacturing processes made by upgrading technology and equipment.
The ACEEE report lauded Germany’s target of a 20% reduction in primary energy consumption by 2020 and 50% by 2050, compared to 2008 levels, and awarded the country first place for energy efficiency in the industrial sector.
The report comes just days after Fraunhofer ISE reported that Germany produced around 31% of its electricity from renewables in the first half of 2014.
Germany Trade & Invest is the foreign trade and inward investment promotion agency of the Federal Republic of Germany. The organization advises foreign companies looking to expand their business activities in the German market.