Yahoo Finance Volkswagen to sell solar panels for charging electric cars
Volkswagen is to start selling solar panels alongside electric car chargers in a move it says will cut costs for drivers by two fifths.
The German car giant on Monday said it had teamed up with solar panel installer Otovo to offer a combined package where customers will be able to get panels installed on the roof of their home at the same time as a wall-mounted charger is put in.
This will allow drivers to use excess solar energy to charge their electric vehicle (EV), potentially reducing charging costs by up to 40pc, VW said.
A typical household can expect to pay about £7,000 for a 3.5kWh peak solar panel system, according to the Energy Saving Trust.
VW already sells chargers through its Elli brand.
It recently launched the Elli Charger 2, which uses software to charge EVs when it is cheapest for homeowners – for example, when there is surplus solar panel energy or when electricity prices are low.
Giovanni Palazzo, chief executive of Elli, said the tie-up was aimed at making charging “more accessible and cost-effective for customers”.
He added: “The partnership with Otovo is not only an important signal for the charging and energy business in Germany and Europe, but especially for the intelligent integration of mobility and energy transition at home.”
Andreas Thorsheim, chief executive and founder of Otovo, said the deal would mean that customers were offered the chance to buy his company’s services at the same time they purchased a VW charger.
He said: “We are very pleased about this important step and the pioneering cooperation.
“This partnership enables us to directly demonstrate the benefits of our photovoltaic systems and significantly expand our market potential.”
Otovo was founded in 2016 and now operates in 13 countries, including the UK. The company says it has installed more than 25,000 solar panel systems across Europe.
VW said the newly-combined service would be available from this summer.
The company said: “An electric car is only as green as the electricity it uses, and solar power is one of the most cost-effective energy sources that homeowners can currently use to achieve the mobility and energy transition at home.”
