German government-owned development bank KfW and the Federal Environment Ministry of Germany have confirmed a €25 million (US$32.7 million) fund for battery storage systems for PV installations will launch on 1 May.
The programme, aimed at companies and individuals that feed PV-generated electricity back into the grid, will provide low interest loans and grants for new systems as well as those that have been in operation since 31 December 2012.
In a statement, Dr Axel Nawrath a board member at KfW said storage technology would play an important role in improving the durability and reliability of renewable energy. He said the new funds would increase the use of renewable energy in the country and also reduce the cost of electricity.
Applications will be accepted from 1 May.