Toshiba venture to sell solar power to German consumers
TOKYO (REUTERS) - Japan's Toshiba Corp will tie up with German real estate company Gagfah SAS to sell energy directly to residents in Germany, people close to the matter told Reuters.
Beginning in March 2014 in two towns in south Germany, Toshiba will fit solar panels on residential properties owned by Gagfah and feed the power generated directly into homes, supplemented with other energy sources to ensure stable supplies, the sources said.
Bypassing the grid should enable Toshiba to cut costs and offer energy at a lower price to consumers without relying on subsidies known as feed-in-tarriffs, a selling point in Germany where a shift away from nuclear power to renewable energy sources has caused a rise in electricity bills.
The sources said it was the first case of a solar-panel maker selling power directly to customers and bypassing the grid, a claim that couldn't immediately be verified.