The expansion of renewable energy in Austria is gaining pace as projects totalling 2,060 MWp of solar capacity and 646 MWh of energy storage have been selected to receive investment subsidies from OeMAG in this year’s funding calls.
OeMAG, the agency in charge of distributing renewable energy subsidies in Austria, said on Friday it has concluded around 90,000 contracts for solar photovoltaic (PV) projects of up to 1 MW and around 31,000 contracts for battery storage in the four funding calls that took place in 2023.
This year’s results far surpass those of 2022 when OeMAG finalised around 66,000 contracts for 1,400 MW of solar capacity and 28,000 contracts for energy storage.
In addition to the subsidies granted by OeMAG, the Energy and Climate Fund has also provided financial support for solar and battery projects in the country.
The four funding calls this year targeted solar projects of up to 1 MW with or without a battery. Selected projects will receive an investment subsidy ranging from up to EUR 140 per kWp for installations with an individual capacity of 100 kWp-1,000 kWp to EUR 285 per kWp for systems of up to 10 kWp.
Overall, the Alpine country had a record budget of EUR 600 million (USD 639.6m) to support solar expansion in 2023. The rollout of solar energy is set to receive an additional push as the government has opted to exempt private individuals from sales tax for the acquisition of PV modules up to 35 kWp, along with their accessories, storage, and installation. The new rule will be in force in 2024 and 2025.