Germany’s PV storage incentive program will come into force on May 117. April 2013 | Top News, Global PV markets, Industry & Suppliers, Investor news, Energy storage | By: Sandra Enkhardt
Germany will launch its support program for photovoltaic battery storage systems on May 1. Funding totaling €25 million will be available in the first year from German state bank KfW.
How Germany’s finance program for battery storage systems for small photovoltaic plants will be funded has finally been resolved. As originally planned, the program will come into force on May 1. The news has been confirmed by a spokesperson from the Federal Environment Ministry and KfW.
KfW spokesperson, Wolfram Schweickhardt additionally told pv magazine that a total of €25 million will be available to the program in 2013. The state bank will provide the financing, thus initially covering the necessary funds for the support program. Overall, the funding program is expected to run for two years; €25 million should also be made available in 2014.
The repayment bonus will also now be financed from these funds. Originally, the Environment Ministry intended to pay this from its energy and climate fund coffers. "We are using the money to relieve the federal Government," continued Schweickhardt. On Tuesday, KfW announced a record profit of €2.4 billion for the previous fiscal year.
From May 1, the purchase of new battery storage for photovoltaic systems will be subsidized up to €660/kW of solar power, said Germany's solar industry association, BSW-Solar, in a statement released. Plant operators can apply for financial support for photovoltaic projects that are installed in 2013 and have a maximum capacity of 30 kW.
In February, KfW sent a circular to Germany’s banks, which included the details of the storage incentives. These conditions will officially apply from May 1, confirmed the KfW spokesperson.
Translated by Becky Beetz.
Keep your finger firmly on the photovoltaic pulse: sign up for our daily newsletter
- 4818 views
- 2976 views
- 3088 views
- 2829 views
- 2610 views
Want to publish your press releases for free? Simply log in or register, enter the information you want to appear and we'll publish it for you!