Germany's largest solar company, SMA Solar has launched a new solar energy storage device allowing users to save solar energy in daytime o be used in the evening allowing them to reduce their electricity bill significantly.

According to estimates, German consumers pay some of the highest electricity prices in Europe as they pay for subsidising cleaner energy production in the country. SMA Solar has claimed that it can help reduce electricity bills of consumers by allowing owners of solar panels to use more solar energy.

SMA Solar is the largest solar company in the country and the world's largest maker of solar inverters. The company has said that its new combined inverter battery will allow households to have three hours of extra energy during the evening. The system is expected to be launched during the second half of the year.

SMA Chief Executive Pierre-Pascal Urbon said, "The discussion is no longer about returns from solar panel installations, as was the case in the past. People now want to know how they can lower their energy bills."

The company said that existing SMA devices with the inverter battery will allow the consumers to use up to 50 per cent of their own solar power compared to 25 per cent at present allowing them to significantly reduce their power bills.