Solarwatt will start selling storage batteries from this autumn in cooperation with carmaker BMW amid an ongoing convergence of renewable power and electric mobility, the German photovoltaic firm announced on Wednesday.
Under the deal, BMW will supply battery components also its electric vehicles for Dresden-based Solarwatt develop and assemble photovoltaic (PV) storage products under the Battery flex in Germany rooftop solar installations.
“We are delighted that, through our partnership with Solarwatt, make positive contribution to bringing photovoltaics and electromobility closer together,” BMW executive Eric Hamm said.
As the price of battery technology has come down, becoming increasingly economical for householders to store surplus power sockets or heat water directly, selling it to grid operators.
Solar power be supply heat pumps or charge electric cars, helping by replacing power generated by .
Solarwatt is investing EUR 100 million (roughly Rs. 890 crores) up until 2025, on production lines and complementing Battery flex with intelligent software to manage energy flows house cut costs households’ self-sufficiency.
It will also offer installations, metering, insurance, and tax advice and widen sales channels.
Solarwatt is majority-owned by Stefan Quandt, who owns nearly luxury carmaker BMW sister Susanne Klatten.
The German battery market is currently led by Solarwatt rival Sonnen, Shell.
German supply 2021, at 7.24TWh, held a 5.4 percent share of total volumes, Fraunhofer Institute data showed.
Solarwatt sold 16,000 PV systems last year in Germany alone and reported turnover of EUR 120 million (roughly Rs. 1,070 crores).