It is well known that Germany devotes considerable social, political and financial effort to developing a sustainable renewable energy strategy. While images of wind turbines and solar panels pervade the common consciousness, one of the most innovative areas of Germany’s renewable energy sector is battery systems and technology.
The battery storage market is currently Germany’s most investment-ready market in environmental technology. There are few systems sold in Germany today which are not integrated with battery systems.
“The so-called ‘solar boom’ and the rapidly-rising share of Germany’s overall energy consumption from renewable sources is creating similar incentives and opportunities all the way along the value chain. With spring and summer on the way, it is set to be an interesting time in Germany’s photovoltaic and battery storage industries.”
Source: Tobias Rothacher, Senior Manager Renewable Energies, Germany Trade & Invest.
This means there are also investment opportunities in the sector. The German government recently announced considerable funding to promote PV battery installations.
It has set aside €30m to assist investments in battery storage connected to a photovoltaic installation and to the grid for the period up to the end of 2018. The measures are aimed at improving the system compatibility of installed battery technology.
A cleaver sliding-scale system encourages early participation, with the assistance funding initially set at 25% of the storage system price for the first three months of the programme and then decreasing every six months by 3% points until 2018 when the programme finishes.
Photo credit: “iStock.com/mipan”. Material used in the preparation of this article has been drawn from Germany Trade & Invest.