Under the 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.
"We are delighted that, through our partnership with
Solarwatt, we can make an additional positive contribution to bringing
photovoltaics and electromobility closer together," BMW executive Eric
Hamm said.
As the price of battery technology has come down, it is
becoming increasingly economical for householders to store surplus solar power
to supply power sockets or heat water directly, rather than selling it to grid
operators.
Solar power can also be used to supply heat pumps or charge
electric cars, helping to reduce global warming by replacing power generated by
fossil fuel.
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.
Both BMW and Solarwatt are majority-owned by BMW heir Stefan
Quandt.
The German battery market is currently led by Solarwatt
rival Sonnen, part of Shell.
German solar power supply in the first quarter 2021, at 7.24
terawatt hours (TWh), held a 5.4% share of total power grid volumes, Fraunhofer
Institute data showed.
Solarwatt sold 16,000 PV systems last year in Germany alone
and reported turnover of 120 million euros ($146 million).
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