Following the latest trends at the recent Intersolar tradeshow held in Munich at the end of June, one has captivated PV industry`s attention: the new German regulation that effectively contributes to support the solar power storage systems.
To confirm this trend, more than 200 exhibitors presented at Intersolar Europe their storage and smart grid solutions, including renowned European global firms. For the first time, energy storage systems had their own dedicated exhibition segment in a global fair, and Intersolar Europe became the largest platform for the combination of photovoltaics and energy storage systems worldwide. Intersolar Europe, attended by around 50,000 visitors from 47 different countries, is the world’s largest exhibition for the solar industry.
Energy storage, together with PV global growth strategies, were the key topics discussed at the conferences that were held at Intersolar to discuss the latest PV industry trends.
But, why did solar power storage systems became the latest trend at Intersolar Europe 2013? Regulation is the answer.
A new law to impulse self supply energy model
Germany approved – on May 2013- a regulation that supports the development of this new system through the German development bank KfW Group, putting aside 25 million€ for its development in 2013. This bank provides a 600€/KW grant for the new PV systems and 660€/KW grant for older systems. To be qualified for those grants, the PV system has to be located in Germany and it has to be used at least for 5 years. No more than 60% of the installed power can be fed to the grid. Batteries include a 5 year warranty.
According to research published by IMS Research, this storage market is projected to be worth $19 billion in 2017, mainly driven by the German subsidy and supported by owners of residential PV systems and operators of small solar PV systems up to 10 kWp – As a whole, photovoltaic storage installations will, on average, experience an annual growth over 100% for the next five years, up to nearly 7 GW and 40GW of battery systems by 2033.
Germany will undoubtedly lead this market, likely to account for nearly 70% of all storage installed in residential photovoltaic systems in 2013, reads the IMS Research report. In order to maximize the financial return of the system, self- consumption on PV residential systems should be promoted.
Definitely, solar power storage is a pioneer alternative to propel the photovoltaic business at short term, but also a measure that encourages energy independence and self- consumption.