Sustainable Energy Market Update: Germany Launches Incentive Program for Solar Energy Storage Systems
Sustainable Energy Technologies Ltd (TSX VENTURE:STG) ("Sustainable Energy" or
the "Company"), a manufacturer of intelligent power electronics for
decentralized generation and storage systems is pleased to confirm that the
German Government will implement the expected incentive program for residential
solar energy storage systems, beginning May 1, 2013. (See News Release: February
19, 2013: Sustainable Energy's Energy Storage Inverter Selected by Leading
European Energy Management System Supplier)
Under the Program, owners of grid connected solar energy storage systems with
power ratings up to 30 kW can apply for a 30% repayment bonus and will be
eligible low interest loans for up to 100% of the total system cost from
Government owned KFW Bankengruppe. (See
"Our energy storage inverter is a perfect fit for this program, since it's one
of the few inverters that meet the German VDE 4105 interconnection standard,
with total freedom to charge and discharge at high efficiency according to real
time requirements," said Brent Harris, CTO of Sustainable Energy. "As it did for
solar power, Germany is providing the leadership with smart grid innovation to
increase the use of renewable energy and optimize the existing power grid
infrastructure. It is, in fact, the widespread use of decentralized energy
storage systems that will actually enable the transition to greater penetration
of renewable energy and electric vehicles into our electricity system."
According to a report published by Reuters earlier this year, tens of thousands
of solar battery systems in Germany alone this year and estimates are for a
total of 9,000 MW over next 6 years (Reuters: Solar Batteries Could be Utilities
Next Headache; Reuters, March 8, 2013). At current market prices, the estimated
value of energy storage inverters to be delivered over this period would be in
excess of $3.6 billion.
Sustainable Energy's Energy Storage Inverter
Sustainable Energy's bi-directional energy storage inverter directly connects
high efficiency batteries to the grid with the power industry's highest round
trip (battery charging and discharging) efficiencies. Unlike most inverters, the
Company's platform has an open, industry standard, communications protocol which
enables full utility control over the battery dispatch and power quality
functions needed for smart grid operations.
The software configurable platform has been designed from the ground up to be
easily integrated into power management systems, allowing OEM partners to
quickly develop lower cost products for multiple markets around the same
electronics platform. The energy storage inverter is CE certified and meets all
VDE smart grid connectivity standards. The same inverter is currently on track
for certification for North American and Japanese markets during this Quarter.
About Sustainable Energy:
Sustainable Energy (www.SustainableEnergy.com) designs and manufactures advanced
power electronics for distributed smart grid and micro-grid applications.
Advanced power electronics are a critical interface between all distributed
generation and storage systems devices, ensuring the delivery of high quality
alternating current (AC) to the power grid as well as providing utility control
over the interconnection and power quality.
Sustainable Energy has designed a simple low cost platform that is software
configurable for a wide range of low voltage cellular generation and storage
technologies, including solar PV fuel cells and all the emerging battery
The Company's platform is based on breakthroughs in power conversion technology
that enable its platform to convert high current/low voltage DC into high
quality AC with conversion efficiencies that are materially higher than anything
in the market with an inherently lower cost structure.
The reader is advised that some of the information herein may constitute
forward-looking statements within the meaning assigned by National Instruments
51-102 and other relevant securities legislation. In particular, we include:
statements concerning the value of future demand for energy storage inverters;
statements concerning proposed German government subsidies for solar energy
storage; statements concerning the efficiency and cost advantages of our energy
storage inverters; and statements concerning our expectations for unit volumes
to be delivered to our customer over the next 30 months.
Forward-looking information is not a guarantee of future performance and
involves a number of risks and uncertainties. Many factors could cause the
Company's actual results, performance or achievements, or future events or
developments, to differ materially from those expressed or implied by the
forward-looking information. Readers are cautioned not to place undue reliance
on forward-looking information, which speaks only as of the date hereof.
Readers are also directed to the Risk Factors section of the Company's current
Annual Information Form which may be found on its website or at www.sedar.com.
The Company does not undertake any obligation to release publicly any revisions
to forward-looking information contained herein to reflect events or
circumstances that occur after the date hereof or to reflect the occurrence of
unanticipated events, except as may be required under applicable securities
FOR FURTHER INFORMATION PLEASE CONTACT:
Sustainable Energy Technologies Ltd.
Chief Executive Officer
Stone Gold (TSXV:STG)
Historical Stock Chart
From Sep 2021 to Oct 2021
Stone Gold (TSXV:STG)
Historical Stock Chart
From Oct 2020 to Oct 2021