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Investitionsbank Berlin Funds Hydrogen-Based Home Storage System Picea From HPS

By November 23, 2021 2   min read  (401 words)

November 23, 2021 |

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Berlin–The Berlin-based company HPS Home Power Solutions (HPS) provides information about the funding of up to € 15,300 for the installation of picea, the world’s first year-round electricity storage system based on green hydrogen for private homes, by the Investitionsbank Berlin (IBB).

As part of its EnergiespeicherPLUS program, IBB supports “the purchase and installation of grid-friendly, secondary electricity storage systems with the simultaneous purchase and commissioning of a photovoltaic system”. The application must be submitted before the installation begins. Funding is limited to the Berlin area.

“We are pleased that IBB is offering start-up financing for the year-round power storage system picea, which was developed in Berlin,” says Zeyad Abul-Ella, co-founder and managing director of HPS. “The funding accelerates the energy transition in the city and supports Berlin in achieving the climate targets. At the same time, it helps our young and growing company to establish itself in the market and thus creates further qualified jobs. ”

EnergiespeicherPlus promotes the purchase of solar power storage systems with the simultaneous purchase and installation of a photovoltaic system and is aimed at private individuals and freelance workers as well as companies, social, state or church institutions, cooperatives or housing associations. The Berlin districts are also eligible to apply. The “EnergiespeicherPLUS” funding program can be combined with other state and federal funding KfW 433.

About picea

picea is the world’s first hydrogen-based electricity storage system for single and two-family houses. The surplus generated by a photovoltaic system on sunny days is stored as green hydrogen and made available again in the form of electricity and heat during the darker months of the year. In this way, picea achieves a full supply of CO2-free electricity all year round and also reduces heating costs. A picea system avoids around three tons of CO2 per year and binds as much CO2 as 130 spruce trees. picea has won several prestigious awards, most recently the Handelsblatt Energy Award 2020 and the Smarter E Award 2021.

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