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Germany to Support Solar Energy Storage with New Subsidy

Germany to Support Solar Energy Storage with New Subsidy

Germany will subsidize consumers' purchases of battery systems to store power from solar panels through a 25 million-euro ($32.6 million) program to promote wider use of renewable energy, according to the German Solar Industry Association.

The government will pay 660 euros a kilowatt of storage capacity under a program that begins May 1, the trade group said today in a statement. The systems will also stabilize the flow of electricity into the grid.

Storage is a policy-driven market, Brian Warshay, an analyst for Bloomberg New Energy Finance in New York, said today in an interview.

“I’d expect for the incentive, which is set at a pretty healthy rate for most systems, to be used up quickly,” he said.

Copyright 2013 Bloomberg

Editor's Note: For more information about this subsidy and the energy storage market, see our recent in-depth articles here:

Solar Storage Market Set for Rapid Growth

Energy Storage Series: Why We Need It, And Why We Don't

Lead image: German flag via Shutterstock

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03/01/2015
Volume 18, Issue 3
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