The German photovoltaic company publicized on Wednesday, Solarwatt will start to sell storage batteries from this autumn in cooperation with car company BMW during an ongoing convergence of electric mobility & renewable power. Under the deal, the car firm will supply battery components used in its electric vehicles for Dresden-based Solarwatt will create & assemble photovoltaically (PV) storage products under the brand name - Battery flex in Germany complementing rooftop solar installations.
BMW executive - Eric Hamm stated, "We are happy that, through our collaboration with Solarwatt, we can create an additional positive contribution to bring electromobility & photovoltaics closer together." As the rate of battery tech came down, it's becoming increasingly economical for residents to store surplus solar power to heat water or supply power sockets directly, rather than selling it to grid operators.
Solar energy can also provide heat pumps or charge EVs, aiding to minimize global warming by replacing energy generated by fossil fuels. Solarwatt is investing approximately Rs. 890 crores (EUR 100M) up until 2025, for instance, on the production lines & complementing Battery flex with intelligent software to control power flows around the house to help reduce costs & increase household's self-sufficiency.
It will also provide insurance, installations, tax advice, metering & widen sales channels. Solarwatt is majority-owned by Stefan Quandt, who owns around half of the luxury car company BMW with his sister - Susanne Klatten. The German battery market is currently a mastermind by Solarwatt rival - Sonnen, part of Shell. Fraunhofer Institute information showed that the German solar power supply in the 1st quarter of 2021, at 7.24 TWh, held a 5.4% share of total power grid volumes. Solarwatt sold 16,000 PV systems in 2020, Germany alone & reported a turnover of around Rs. 1,070 crores (EUR 120M).
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