OREANDA-NEWS. KfW’s renewable energy storage programme, which started on 1 May, has been very popular. In the first two months since the start of the programme, KfW has already received over five hundred loan applications totalling ten million euros. This is equivalent to an average loan of EUR 18,200. The KfW Group and the German Federal Ministry for the Environment (BMU) are supporting the greater use of battery storage systems in conjunction with photovoltaic systems that are connected to the electric grid.

“Battery storage systems make an important contribution to improving the integration of small- to medium-sized photovoltaic systems into the grid and making more efficient use of solar electricity. The pleasing strong demand for our programme brings us closer to the goal of driving forward further technical development and market penetration of battery storage systems,” says KfW Executive Board member Dr Axel Nawrath.

KfW’s renewable energy storage programme makes low-interest loans from KfW funds available to interested investors, as well as repayment subsidies provided from the BMU’s budget. Up to 100% of net investment costs eligible for the programme can be financed. It has been possible to make applications to the on-lending banks granting loans on behalf of the scheme since 1 May 2013.