Schleswig-Holstein to promote investments in energy storage projects

The German state of Schleswig-Holstein said on Tuesday that it is providing EUR 6 million (USD 6.62m) from the European Regional Development Fund plus EUR 1.5 million in state funds to support energy storage projects.

The state government has issued new funding guidelines to ensure more storage facilities are built quickly.

The initiative will promote investments in newly installed systems if at least 75% of the annual energy is sourced from directly connected solar or wind facilities. Both small and medium-sized enterprises are eligible to apply.

Thus, the new guidelines are closing an existing economic gap particularly for smaller storage systems in the single or double-digit megawatt range.

Schleswig-Holstein will back projects whose total costs range between EUR 200,000 and EUR 10 million. The grant amounts to 40% for medium-sized enterprises and 50% for small enterprises.

According to the statement, renewable facilities in Schleswig-Holstein produce more energy than what can be used in two thirds of the year. Via storage systems, the local government seeks to secure supply at times when solar and wind conditions are not optimal.

(EUR 1 = USD 1.103)

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