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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