KfW: Germany establishes new solar storage record

25/07/2016 10:37 Renewable

news

With the most photovoltaic capacity of any country in Europe, Germany has succeeded to store its excess solar power to bolster local usage.

Last year, Germany 41% of all new solar installations were equipped with backup batteries, posting a world record, according to reports unveiled by KfW Development Bank. This level compares with less than 14 per cent in 2014. Since 2013, 43,000 applications for solar systems with battery storage have got the green light -- 19,328 last year alone. The heftiest concentration of registered locations in Bavaria and North Rhine-Westphalia mirrors higher income levels and greater electricity consumption per household. However, solar generation only provides 940 equivalent full-load hours of electricity per year, its high capacity currently covers 7.5 per cent of German electricity consumption against the 14 per cent for nuclear generation (in 2015). But solar power has a specific advantage over nuclear generation, because it needs no long-distance transmission to serve local markets.

Daily (03.12.2019): NBP gas forward prices strongly bearish on Monday due to robust supplies from LNG terminals and from Norway

03/12/2019 11:26:00

Brent crude declined on Monday on concerns about global oil oversupply and limited progress toward resolving the U.S.-China trade war that has clouded the outlook for oil demand. Brent lost 2.4% to settle at $60.92 a barrel.

<READ MORE

Ireland to open 1st renewables auction in early 2020

03/12/2019 09:36:00

The Irish government on Monday gave the green light to the country’s first auction under its new Renewable Electricity Support Scheme (RESS) that is seen to pave the way towards a 70% renewables share by 2030.

READ MORE

Novatek $4.8 bln Yamal LNG fleet complete. Yakov Gakkel expected to load next week

03/12/2019 09:33:00

Russia’s largest independent natural gas producer and LNG exporting player, Novatek has completed the $4.8 billion, 15-vessel strong fleet of Arc7 liquefied natural gas carriers set to serve its giant Yamal LNG project in the Arctic.

READ MORE