Massive Interest in German Home Solar EV Charging Station Subsidy

News provided by

Sep 27, 2023, 09:17 ET

BERLIN, Sept. 27, 2023 /PRNewswire/ -- Germany is offering support to property owners to install chargers for electric vehicles – applications exhausted the EUR 300 million allocated for 2023 in a single day.

The new assistance program is administered by Germany's development bank, the KfW, and is capped, for the moment, at EUR 500 million. The KfW says that after 33,000 were applications filed within 24 hours, no more requests will be accepted for this year. Homeowners will be able to apply for support from a further EUR 200 million in government funds in 2024.

People eligible can receive up to EUR 10,200 to equip their primary residences with solar powered EV charging solutions: EUR 6,000 for photovoltaic installations, EUR 3,000 for solar electricity batteries and EUR 1,200 for charging station themselves.

Apartment owners are not eligible. To qualify, home owners must have already purchased or ordered an electric vehicle.

As of July 2023, there were some 97,000 EV charging stations in Germany. But the government says that far more public and private stations are needed if the country is to reach its EV targets as part of its legally mandated transition to clean energy.

"The new support program for solar charging stations is the latest in a long line of attractive and sustainable KfW assistance programs," says Thomas Grigoleit, Germany Trade & Invest Director of Energy, Building and Environmental Technologies. "It will no doubt make an important contribution to the expansion of electromobility in Europe's largst economy."

Contact:
Jefferson Chase
Senior Manager, Communications
Germany Trade & Invest
Friedrichstrasse 60
10117 Berlin Germany
+49 1796873724

Germany Trade & Invest (GTAI) is the German government agency for international business promotion. It helps international companies set up shop in Germany and German companies do business abroad. It also promotes Germany in general as a business location.

SOURCE Germany Trade & Invest