Siemens Plans to Acquire KACO New Energy’s String Inverter Business in Germany
Published Date | 2019 March 4
The acquisition of Siemens with KACO new energy will grow its business expansion in the energy storage sector and will propel the global residential energy storage market in upcoming periods
Global: German industrial conglomerate Siemens plans to acquire inverter manufacturer Kaco New Energy GmbH based in Neckarsulm, Germany. The completion of the transaction is expected in the second quarter of 2019, subject to regulatory approvals. Kaco’s inverter portfolio ranges from small residential applications to large-scale PV power plant products. It has a strong focus on string inverters for PV and storage applications, with capacities of up to 1,500 V and cutting edge semiconductor technology. It also has silicon carbide-based inverters considered next-gen technology. Recently KACO has acquired the storage provider Energy Depot from Constance to strengthen its market position in batteries.
The proposed transaction would include Kaco’s inverter business but the project development and EPC segments will not be part of the acquisition. The acquisition with KACO new energy enhances will enhance the Siemen’s portfolio in attractive growth segments at the grid edge and would also provide access to the latest technologies, as Kaco’s complementary power electronics portfolio would enable it to extend its technological leadership in high-growth business areas such as distributed energy systems.
According to BlueWeave Consulting, Residential Energy storage is a new feature which gives benefit in financial terms and energy management of residential purposes. Residential Energy storage have numerous advantages such as maximize consumption of own power, to keep home’s electricity resilient, get power even with no grid, saving electricity costs. Rising electricity costs, reduction in system costs, preference toward the use of clean and locally generated electricity for more energy independence and limited energy resources will boost residential energy storage market globally. Moreover, government initiatives for renewables energy, increment in consumer awareness about benefits of using renewables energy resources will play a major role in growth of residential energy storage market.
According to BlueWeave Consulting‘s upcoming report, Titled-“Global Residential Energy Storage Market By Product (Lead Acid, Lithium-ion and sodium Nickel Chloride), By Distribution channel (offline and online), By Region, Size and Forecast 2018- 2025”- Global residential energy storage market is expected with grow with a significant rate in forecast period, 2018-2025, due to growing regulatory focus toward minimizing carbon emissions while increasing the share of renewables on the grid. Moreover, increasing demand of solar PV levels along with introduction of supportive policies and energy storage subsidies, Aging grid infrastructure and rising concerns over climate change will further fuel the global residential energy storage market over forecast period.