- Solarwatt is investing 100 million euros up until 2025, for example on production lines and complementing Battery flex with intelligent software to manage energy flows around the house
- Solarwatt sold 16,000 PV systems last year in Germany alone and reported a turnover of 120 million euros ($146 million)
As per a report by Reuters, Solarwatt will start selling storage batteries from this autumn in cooperation with, the German photovoltaic firm has announced. It added that under this deal, BMW will supply battery components also used in its electric vehicles for Dresden-based Solarwatt which will develop and assemble photovoltaic (PV) storage products under the brand name Battery flex in Germany to complement rooftop solar installations.
BMW executive Eric Hamm said that the company is delighted that, through their partnership with Solarwatt. they can make an additional positive contribution to bringing photovoltaics and electromobility closer together.
German solar power supply in the first quarter 2021 is at 7.24 terawatt-hours
The report added that Solarwatt is investing 100 million euros up until 2025, for example on production lines and complementing Battery flex with intelligent software to manage energy flows around the house to help cut costs and raise 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 of luxury carmaker BMW with his sister Susanne Klatten. The report added that Fraunhofer Institute data showed that German solar power supply in the first quarter 2021, at 7.24 terawatt-hours (TWh), held a 5.4 per cent share of total power grid volumes.Solarwatt sold 16,000 PV systems last year in Germany alone and reported a turnover of 120 million euros ($146 million), added the report.
