FRANKFURT Reuters - Solarwatt opened a new production line for photovoltaic modules on Thursday as part of a 100 million euro investment, which promotes the convergence of renewable energy, smart home, heating and video.
The line will produce one million modules per year, enough to allow 80,000 households to meet their power needs with renewable electricity, it said in a statement to coincide with an inauguration event.
The company, supported by BMW's billionaire shareholder Stefan Quandt, also presented two new production lines for storage batteries which it started operating recently.
Detlef Neuhaus said demand for photovoltaic systems from residential and commercial customers is growing not only in Germany but worldwide.
It is therefore extremely important that we have a strong solar industry in this country to help promote innovation and to offer solutions that allow people to get clean energy as quickly and easily as possible, he said.
Two months ago, Solarwatt launched a small system called Manager Flex, which allows homeowners to connect rooftop solar panels to power storage cells and electric vehicles.
This came shortly after it announced a cooperation deal with BMW in which the carmaker supplies battery components also used in BMW electric vehicles for Solarwatt's brandged home storage product called Battery flex As the price of batteries has come down, it is becoming increasingly economical for householders to store surplus solar power rather than selling it to grid operators and having to buy from the grid when the sun does not shine.
Solar power can also be used to charge electric heat pumps or supply electric cars at home.
Germany is the world's top home storage battery market with 300,000 stationary batteries, a market currently led by Solarwatt rival Sonnen, which is part of Shell.