CAPTION: Investors show renewed interest in solar industry in Germany. (picture alliance/dpa/dpa-Zentralbild)
The comeback of the solar industry in Germany is attracting investors. Berlin-based solar start-up Zolar has announced a 100-million-euros funding round. Founded in 2016, the company offers a digital configurator that allows customers to either buy or rent the right photovoltaic system for their home. The modules are manufactured in Germany as well as South Korea and China. Zolar then also acts as an agency, organizing for local tradespeople to carry out the installations.
With the fresh capital, Zolar founder Alex Melzer wants, among other things, to expand the company's app to include an energy management system that also takes dynamic electricity tariffs into account. This should enable the system to recognize, for example, when is the cheapest time for charging an e-car and then automatically start the charging process. Zolar also wants to expand cooperation with installation companies and train qualified tradespeople.
According to the German Solar Industry Association, by the end of 2021 there were about 2.2 million solar installations throughout Germany, with a combined capacity of 59 gigawatts peak - the customary unit for the maximum output of installations under standard conditions. Last year alone, 235,600 systems were added. According to the association, a total of 50 terawatt hours - or 50 billion kilowatt hours - of solar power were generated in Germany in 2021, covering a net 10 percent of the public electricity supply.
Zolar founder Melzer sees a future for the expansion of solar energy that goes far beyond these figures: "Our goal is to supply 10 million households in Europe with either a solar system or renewable energy by 2030," he said.
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