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![]() by Staff Writers Englewood CO (SPX) Sep 05, 2013
"New German Government subsidy kick-starts solar energy storage market", says Sam Wilkinson, Research Manager, at IHS. "As earlier predicted by IHS, German energy storage subsidy is forecast to kick-start the adoption of solar PV energy storage systems in a similar way as its feed-in tariff system ignited the PV industry eight years ago. The adoption of residential PV energy storage in Germany will accelerate in 2014 as a result of this subsidy and falling prices of the storage system. Similar storage subsidies are available in both Japan for Li-Ion based storage solutions in the residential sector, and in California where advanced energy storage systems can be subsidized up to 3 MW in size. In 2017, we project energy storage in grid-connected applications will generate $9 billion in revenue in 2017. The energy storage market in Germany will be dominated by the residential sector, with 30 MW of installations already supported by the subsidy in 2013. Periodic decreases in FiT and continually increasing electricity prices, coupled with decreasing PV system prices, have now made it financially favourable for a home-owner to self-consume PV energy on-site rather than export it to the electricity grid and receive the FiT. An energy storage solution enables the system owner to increase the level of self-consumption from around 30% without a solution to around 60% if adding batteries. Despite lowering the overall IRR of the system, adding storage provides the system owner with additional benefits such as back-up power, independency from utilities and energy security.
Background This data was based on information it received from the KfW bank that is providing financing for the scheme. The energy storage subsidy, available since the 1st May 2013, provides a grant to lower the upfront cost of installing an energy storage solution in a PV system up to 30kW in size. The subsidy equates to euro 600/kW, or a maximum of 30% of the eligible costs, for a battery-based energy storage system installed in a new PV system. The total annual budget available for the program in 2013 is just euro 25 million, of which euro 18.7 million has already been allocated. An energy storage solution, commonly battery based, can be deployed in a PV system to provide a number of functions ranging from fast acting energy injection to smooth intermittent PV energy, to shifting energy generated by a PV system to be used at a later time of the day.
Related Links IHS All About Solar Energy at SolarDaily.com
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