BMW Cooperate With Solarwatt on Home Batteries, to provide Components Also utilized in Its Electric Vehicles

BMW

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 utilized in its electric vehicles for Dresden-based Solarwatt which can develop and assemble photovoltaic (PV) storage products under the name Battery flex in Germany to enrich rooftop solar installations.

“We are delighted that, through our partnership with Solarwatt, we will make a further positive contribution to bringing photovoltaics and electromobility closer together,” BMW executive Eric Hamm said.

As the price of battery technology has come down, it’s becoming increasingly economical for householders to store surplus solar energy to provide power sockets or heat water directly, instead of selling it to grid operators.

Solar power also can be wont to supply heat pumps or charge electric cars, helping to scale back heating by replacing power generated by fuel.

Solarwatt is investing EUR 100 million (roughly Rs. 890 crores) up until 2025, for instance on production lines and complementing Battery flex with intelligent software to manage energy flows round the house to assist cut costs and lift 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 half luxury carmaker BMW together with his sister Susanne Klatten.

The German battery market is currently led by Solarwatt rival Sonnen, a part of Shell.

German solar energy supply within the half-moon 2021, at 7.24TWh, held a 5.4 percent share of total power system 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).

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