„Great job, a lottery would have been fairer“ or „Seven hours wasted trying to apply for KfW funding for a PV system. Online application through KfW is an absolute joke, server has been completely overloaded since this morning, form filled out about 20 times, sent 300 times, 300 errors“ – two examples of the frustration that German citizens expressed, among other things, on the short messaging service X, formerly known as Twitter.

The reason: A funding program where owners of electric cars can charge them directly from solar power from their roof. The funding pot for these „solar filling stations“ was empty within 24 hours. After the first round of 300 million euros, another 200 million euros were supposed to follow in a second round, but the funding is now likely to fall victim to budget cuts.

Why are funding programs being stopped? According to tagesschau.de, the development bank had already stopped four funding programs at the end of last year due to financing problems of the federal government.

A disgrace for KfW, which celebrated its 75th anniversary at the end of November and is one of Germany’s largest financial institutions. And of course a disgrace for our government. How can the energy transition ever succeed under these conditions? Allegedly, the federal government has now increased its resources. The CEO of KfW speaks of ten billion euros for affordable housing and climate-friendly renovation. Will these words be followed by actions?

This is how the KfW CEO interprets the precarious situation The responsible parties do not want to confirm that things are not really running smoothly at KfW.

At the bank’s press conference for the start of the year, KfW CEO Stefan Wintels emphasized that his bank had provided funding of 111.3 billion euros in the form of subsidized loans and grants last year. That is about a third less than the year before. Wintels interprets the decrease in funding as positive. 2022 was an exceptional year, marked by crises. Now we are experiencing a clear, but positive normalization.

New funding is planned Whether fewer funding funds were spent last year can be seen in different ways. KfW emphasizes that this is a good sign. After the severe crises in recent years, private individuals and companies would need less financial support.

Is that really the case? That fewer subsidized loans and grants are being awarded can also be seen as follows: KfW, like our federal government, is short of money.

What you should do now There are many indications that the financial situation in our country will continue to worsen. Private asset protection is more important than ever in these difficult times. Have you already taken action? No? Then you should urgently take action.

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