Siemens enters home energy storage market and confirms acquisition of photovoltaic inverter company Kaco

It is reported that German company Siemens has confirmed that it will acquire inverter manufacturer Kaco New Energy GmbH. The business that Siemens intends to acquire includes Kaco's inverter business, but the latter's project development and engineering, procurement and construction business are not included in the acquisition.

Currently, the German antitrust department will review the proposed transaction, which is expected to be completed in July this year.

Kaco's inverter business ranges from small residential applications to large photovoltaic power plants. The company's strength is string inverters used in photovoltaic and energy storage facilities, with a capacity of up to 1500 volts and using cutting-edge semiconductor technology. At the same time, the company is also considering the development of iterative silicon carbide-based inverters.

Kaco is satisfied with Siemens' acquisition and believes that it can fully prepare for the challenges in the next few years by relying on the latter's strength. For Siemens, this acquisition will enable the company to obtain the latest technology in the inverter field, supplement its power electronics product portfolio, and enable the company to expand its technological leadership in high-growth business areas such as distributed energy systems.

A few days ago, Siemens announced its entry into the photovoltaic home energy storage market. Its products have begun to be sold in the German market and will soon be available in Austria. The price of entry-level products is less than 5,000 euros.