How Germanys 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 Germanys 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.