Solarwatt with sales increase and new hires – market introduction of MyReserve in Italy and Spain

3/2/17, 8:45 AM -

Solarwatt increased sales by 30 percent last year to around 65 million euros and announced new hires. The production lines for solar glass-glass modules are currently being modernized. Battery energy storage sytem MyReserve is also to be introduced in Spain and Italy.

Solarwatt expands production of solar glass-glass modules and distribution of battery energy storage system MyReserve.
Solarwatt`s headquarters in Dresden/Germany.

The growth is based, among other things, on the increase in system revenues, which has doubled compared to the previous year. Solarwatt reoriented itself a few years ago as a PV system provider with core competencies in the fields of energy generation, energy management and energy storage. According to Solarwatt CEO, Detlef Neuhaus, this organic growth will continue in 2017: "We are pleased to be able to record stable growth against the industry-wide trend for several years. In 2017 we want to take another step forward and increase our sales to around 100 million euros. "The workforce is also expected to continue to grow:" In times when our competitors are cutting jobs, we would like to recruit additional staff in the current year. In 2017, the number of employees will rise to about 340, "said Carsten Bovenschen, Managing Director Finance and Human Resources at the Solarwatt Group. Personnel growth is mainly due to the areas of research & development and sales.

MyReserve introduction at an international level

In 2017 the storage business is to contribute even more to Solarwatt’s success. After its launch in 2015, MyReserve achieved a market share of around 10 percent within a short time in Germany. Last year, Solarwatt bundled its know-how in storage research and development in the technology center Solarwatt Innovation in Frechen near Cologne. "Since the launch of our MyReserve device two years ago, we have been working on its ongoing development. We will be exhibiting a pioneering product innovation at Intersolar 2017, " says Detlef Neuhaus. After the market entry in Germany, France, and the Netherlands, the MyReserve is also to be introduced in Spain, Italy, Great Britain, and Australia. Other countries are currently under consideration.

Glass-glass modules: Millions invested in production line

Solarwatt further expanded its market leadership in the premium segment for solar modules during the past year: around two-thirds of the modules produced were glass-glass solar modules - and the trend is growing. The module manufacturing at the company's headquarters is currently being modernized. Solarwatt is investing in new machines which can significantly speed up the module throughput. Despite the increasing internationalization all Solarwatt products still come from within the company. CEO Detlef Neuhaus: "We are the only system provider to develop all our products ourselves and produce them in Germany - and will remain so in the future."

Since 2013, Solarwatt has been cooperating with BMW as part of the "360 ° Electric" program for efficient electromobility. Since 2015, Solarwatt has been in cooperative partnership with Eon. (HCN)

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