German house solar energy agency sees vivid future as demand soars

FRANKFURT/DUESSELDORF, Jan 12 (Reuters) – Hovering demand for house solar energy methods in Germany might enhance revenues at Solarwatt by greater than 50% this yr to 500 million euros ($538 million) and raise them to 1 billion euros in 2025, its chief government advised Reuters.

“Progress is powerful and wholesome,” Detlef Neuhaus mentioned in an interview, including profitability must be reached this yr.

By putting in photo voltaic panels, batteries and heat pumps, house house owners are in search of to chop their power payments after large price hikes final yr when Russia minimize fossil gas exports to the West.

“We’re a life-long provider to individuals who wish to change into self-reliant on renewable power,” mentioned Neuhaus.

Solarwatt supplies high-end photovoltaic rooftop methods that may be mixed with its storage batteries and power administration gadgets, or these from different suppliers.

As such, the corporate hopes to scale back its vulnerability to cheaper Asian rivals which have introduced down another German photo voltaic companies up to now decade.

Solarwatt’s gross sales in 2022 totalled 330 million euros, greater than double the 160 million of 2021.

Turnover of photo voltaic methods on the Dresden-based firm is predicted to rise to 100,000 this yr, from 66,000 in 2022 and 32,000 in 2021.

Other than saving cash, owners wish to reduce their impact on the surroundings, not simply in how they energy and warmth their properties, however how they run their electrical automobiles, Neuhaus mentioned.

“That’s logical, given house photo voltaic manufacturing prices 10 to 12 cents per kilowatt hour (kWh) and buying-in from the utilities prices 45 cents,” he mentioned.

One problem, although, is shortages of elements and labour.

“There are nonetheless difficulties with provide chains and set up capacities,” Neuhaus mentioned.

Additionally, clients wanting a whole solar-based worth chain with panels, battery, warmth pump, and digital administration, could must spend just a few tens of 1000’s of euros earlier than they can throw out their gasoline boiler.

Solarwatt is 98%-owned by billionaire BMW (BMWG.DE) shareholder Stefan Quandt.

The corporate, which operates in a handful of different European markets, plans to boost employees numbers to 940 this yr from 810 in 2022 and 600 in 2021.

($1 = 0.9288 euros)

Reporting by Vera Eckert and Tom Kaeckenhoff Modifying by Paul Carrel and Mark Potter

Our Requirements: The Thomson Reuters Trust Principles.