Germany's government earlier this month confirmed a complete nuclear phase-out by 2022, paving the way for an accelerated shift to renewable energy. This will require major investments in the electricity grid and energy storage technologies.according to Germany Trade & Invest. Germany is already pursuing solutions, with several model regions developing new industry standards. These activities create business opportunities in the German market.

"Smart energy management is a key component of our future energy supply. With one of the world’s leading renewable energy industries and a highly innovative IT sector, Germany is in an outstanding position to take the lead globally. Investors benefit from excellent conditions here," said Dr. Jürgen Friedrich, Chief Executive of Germany Trade & Invest in Berlin.

Germany already boasts 17 percent renewable electricity from sources like wind and solar power, which do not have a base load. A large fluctuating energy supply requires smart grids and energy storage to balance supply and demand, which can be achieved by shifting consumption or storing energy for later use. Software and IT solutions are a key component for the advancement of smart energy management.

Germany has six model regions that receive funding for the development of different aspects of future smart grid technologies and standards. The Regenerative Model Region Harz (RegModHarz), for example, is developing a virtual power station that groups renewable power generators, consumers and energy storage facilities to prove that stable, reliable and consumer-oriented electrical power is achievable from renewable sources.