Soaring demand for home solar power systems in Germany could boost revenues at Solarwatt by more than 50% this year to 500 million euros ($538 million) and lift them to 1 billion euros in 2025, its chief executive told Reuters.
“Growth is strong and healthy,” Detlef Neuhaus said in an interview, adding profitability should be reached this year.
By installing solar panels, batteries and heat pumps, home owners are seeking to cut their energy bills after huge price hikes last year when Russia cut fossil fuel exports to the West.
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