Funding program for electric car charging station exhausted after one day – Economy

Anyone who wants to charge their electric car with their own solar power in the future can apply for government funding. Transport Minister Volker Wissing is promising homeowners up to 10,200 euros for the purchase and connection of charging stations, photovoltaic systems and solar power storage systems.

The problem with this attractive offer: It is apparently so attractive that the new funding program had to be stopped after just one day. The high demand depleted the funding pot of 300 million euros after less than 24 hours. According to the state-owned KfW Bank, 33,000 applications were approved – all others will receive nothing this year.

The Ministry of Transport has actually made available 500 million euros for the funding program, but 200 million euros are only intended for 2024. The so-called first-come, first-served principle applies when distributing the money: whoever submits an application first gets the chance first. This probably explains the run on the program: KfW said that there were already more than 190,000 visitors to the portal before it was activated on Tuesday morning, and almost 66,000 users have registered since then. “We ask all interested parties not to submit any further applications,” says a KfW spokesman. As soon as additional budget funds become available, information will be provided.

Federal Transport Minister Volker Wissing (FDP) spoke of an “overwhelming response”. The “solar power for electric cars” funding program “obviously hits the right nerve with the population.” It subsidizes charging in one’s own building and is intended to reduce the need for publicly accessible charging points for electric cars. A special feature: You only receive the maximum claim with an “innovation bonus” if you are prepared for the electric car not only to be charged, but also to be able to supply electricity to the grid when required.

source site