Sweden To Give 60% Subsidy For Residential Energy Storage Batteries
Sweden has announced a government subsidy that will cover 60% of the cost for installing a residential energy storage system, up to a maximum of 50,000 kroner (US$5,400). Battery, wiring, management systems and installation will all be eligible for payment under the subsidy.
The subsidy is part of Sweden’s plan to boost PV utilization and establish a smarter, more flexible grid. It will come as welcome news for residential customers, as well as the C&I sector, which received another boost earlier this week with the scrapping of a tax for solar installations larger than 255 kW.
Sweden currently has just 120 MW of solar PV capacity, however this represents a big jump in installations over the past year. A recent PV strategy released by the Swedish Energy Agency suggests that solar could account for 5-10% of the country’s energy by 2040.
“Solar PV is a rapidly expanding market in Sweden,” says Johan Lindahl, a spokesperson for the Solar Energy Association of Sweden. “It’s in a good position to grow from a small position currently. Last year, for instance, solar PV capacity grew by 60%.”
A similar storage subsidy in Germany has been highly successful, with more than 19,000 batteries installed alongside PV systems. Earlier in the year, this subsidy was extended until 2018.
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