Solar Power Storage Prices Drop 25% In Germany… In <1 Year
Prices for German solar power storage systems have reportedly fallen 25% since the spring. The data come from the German Solar Industry Association (BSW-Solar).
Also according to BSW-Solar, approximately 15,000 German households now use battery storage combined with solar power, and that number has been growing faster and faster as the costs have come down. As an example of that, KfW, Germany’s development bank, approved 32% more funding applications for home storage in the third quarter of this year than in the second. Needless to say, I think word is getting around that this is a smart move for many now that storage costs have fallen.
“This is a nice Christmas present for the Energiewende, Germany’s energy transition, and for all operators of solar power systems. Affordable solar storage systems mean that operators can now fulfill their wish for more energy independence and can count on stable electricity prices in the long term,” says Carsten Körnig, Managing Director of BSW-Solar.
“Due to technological advances and growing demand, the average prices for battery storage systems have fallen by around 25 percent between the first and the second half of 2014,” the BSW-Solar press release states.
Solar power storage isn’t only growing in Germany, though. For sure, it is growing at a nice rate in Japan and Australia. Furthermore, the US solar + storage market is projected to see strong growth in 2015 and the following years. This is partly driven by the continued drop in solar power prices, but also a quick drop in battery storage prices.
SunPower and Sunverge just announced a US and Australia partnership to market solar and storage.
Top Image: Germany solar rooftop via Shutterstock