Inverter-Based Power Sharing: An Explanation of Photovoltaic Power Sharing Through a Single System Component
The inverter yield share is the Helm Group’s photovoltaic investment: ownership of the inverter for a specific PV system, a share in the actual electricity yield, secured by the personal liability of the owners of mediplan Helm e.K.
The short answer
A photovoltaic investment via the inverter means that investors acquire ownership of the inverter in a specific PV system and receive a share of the actual electricity yield through this uniquely assigned component—not through a fund share and not through a subordinated loan. Minimum investment of €100,000 in equity; base term of 20 years with an option to extend to 40 years; the contracting party is mediplan Helm e.K., with personal liability of the owners. This article explains the model from a technical and legal perspective—the tax implications, a comparison with other providers, and the specific return calculations are covered in separate articles.
A photovoltaic investment means that you invest capital in a solar power plant and share in its electricity revenue without having to operate the plant yourself. This article is intended for investors seeking a direct, asset-based stake in photovoltaic plants—not for retail investors interested in fund shares. For investors seeking a sustainable, asset-based investment beyond traditional interest-bearing products, this is one of the most direct ways to profit from the energy transition while simultaneously advancing the expansion of renewable energy. In 2026, this topic is particularly relevant: declining feed-in tariffs, new investment rules, and tax incentives are constantly shifting which model is most profitable. This article explains a specific model—the Helm Group’s inverter revenue-sharing program—and places it within the broader context of photovoltaics as an investment.
What is inverter revenue sharing?—In a nutshell
The key difference from other forms of investment—fund shares, shares in solar projects, or bonds—lies in the nature of the investment. Here, an investor does not become a creditor of a project company or a limited partner in a fund, but rather the owner of a physical component installed in the system, whose electricity feed-in to the grid can be measured separately using technical means. The investor’s return stems from the actual operation of the photovoltaic system, not from a legal promise. As a result, this photovoltaic investment has a different structure than most offerings on the market.
For this reason, the Helm Group consistently refers to this model as “direct ownership.” Anyone looking for a PV investment or a solar investment will find exactly this concept: ownership of an inverter in a specific photovoltaic system, with clearly defined roles for all parties involved—project partner Logic Energy, contractual partner mediplan Helm e.K., and investors.
What form of participation is actually included in the model?
There are several similar-sounding terms in use in the market. An investment can be directed toward four different types of assets:
- fund assets – a stake in a fund company,
- a cooperative share —membership in a registered cooperative (eG),
- a claim against a project company—such as a subordinated loan,
- a specific asset —ownership of a single component.
The final form of inverter revenue sharing is ownership of a specific component of a specific system. This clarity is important because the legal consequences differ for each of the four forms.
Why the inverter, of all things? The logic behind yield mechanics
How a Solar Power System Is Technically Designed
A modern PV system consists of several functional layers: Solar cells in the modules convert sunlight into electrical energy; the wiring collects the direct current; the inverter converts it into grid-compatible alternating current; and a meter records the amount of power fed into the grid. The inverter serves as the crucial interface between the solar cells and the power grid. Solar cells generate direct current (DC), which cannot be used in the home or fed into the public power grid—both of which operate exclusively on alternating current (AC) at a defined voltage and frequency. The inverter adjusts the voltage and frequency to meet grid specifications. Without this component, the generated electricity would be technically unusable.
From an economic standpoint, therefore, the final variable in this chain—the kilowatt-hour fed into the grid—is of interest. It is generated at exactly one point: at the output of the inverter. This component is thus the point at which the photovoltaic system’s electricity generation becomes measurable.
In systems with multiple inverters, a clear string structure is created. Each inverter is connected to a specific module area and has its own data output, serial number, and energy meter. The owner of each inverter can read their share of the energy production directly on the device rather than deriving it from a distribution formula—that is the technical core of the model.
The Inverter as a Component Critical to Energy Yield
A second characteristic makes the inverter unique: It is the component that is critical to the output of the entire system. Modules gradually lose power over 25 to 30 years. The inverter, on the other hand, is either running or it isn’t—if it fails, it immediately stops power generation in the associated strings. As a result, owners have a financial stake in precisely the component whose condition has the greatest impact on annual yield. This logic links ownership to the day-to-day operation of photovoltaic systems—whether they’re installed on rooftops or in open fields.
Here's how the allocation works: From component to investor return metric
The process from component to revenue recognition consists of three steps:
- Assignment: Each inverter is assigned to a specific investor based on its serial number, string layout, and system documentation.
- Measurement: Power output is recorded for each inverter using the existing monitoring system.
- Settlement: The investor's revenue statement is generated based on this data.
Roof-mounted systems, ground-mounted PV systems, and solar farms: the same logic
Logic Energy designs and builds the PV system in such a way that investor allocation is part of the technical planning from the very beginning. This applies to rooftop systems as well as ground-mounted PV systems and larger solar parks: Upon commissioning, each inverter is assigned a unique identifier, which is consistently recorded in the system documentation, monitoring system, and contract. Anyone who wishes to inspect their inverter is shown exactly that unit on site—physically installed, with its serial number visible in the viewing window. The size of the system is secondary for this type of solar investment; what matters is that each inverter remains traceable and assignable.
How Electricity Generation Is Converted Into Compensation for the Investor
During operation, the monitoring system continuously generates power output data for each inverter. This data is used both for plant control and maintenance planning, as well as for billing the investor. The investor’s compensation is calculated based on the actual kilowatt-hours generated by the inverter, multiplied by the plant’s revenue rate. The total number of kilowatt-hours generated depends on solar irradiance and the location.
The selling price depends on the marketing structure.
An Overview of the Three Compensation Models
- EEG Feed-in Tariff – Small rooftop systems up to 10 kWp receive the statutory feed-in tariff of 7.70 cents per kilowatt-hour for partial feed-in (effective as of August 1, 2026, § 48 et seq. EEG; until July 31, 2026, the rate was 7.78 cents/kWh).
- Direct Sales – Systems with a capacity of 100 kW or more are subject to direct sales; the revenue is calculated as the market value of solar plus the market premium.
- Power Purchase Agreement (PPA) – a purchase price agreed upon with the electricity consumer for the long term.
In all three scenarios, the revenue attributable to the respective inverter is paid to the investor—minus the contractually agreed-upon operating costs.
Since the Solar Peak Act of February 25, 2025, the following also applies: New systems with a capacity of 2 kWp or more do not receive EEG feed-in tariffs during quarter-hour periods when the price on the electricity exchange is negative (Section 51 EEG); this shortfall is partially offset by an extension of the feed-in period (Section 51a EEG). For typical systems, the impact remains minimal—the details are outlined in the guide on negative electricity prices and photovoltaics.
Legal Framework: Ownership, Contract, Owner Liability
The legal structure rests on two pillars. The first is ownership of the inverter itself. The investor becomes the owner under civil law within the meaning of Section 903 of the German Civil Code (BGB). In the event of the plant operator’s insolvency, ownership is not included in the insolvency estate but is subject to a right of separation—a key structural difference from any subordinated loan or unsecured debt instrument.
The second pillar is the contractual relationship with mediplan Helm e.K. It is the sister company of Logic Glas GmbH within the Helm Group and acts as the contractual partner for direct PV investments. Unlike with a GmbH or UG, commercial law provides for a different liability structure for registered merchants: The owner of an e.K. is personally and unlimitedly liable with all business and personal assets pursuant to Sections 1, 17, and 19 of the German Commercial Code (HGB). This liability is not limited to a capital contribution.
For investors, the combination of ownership of the physical assets and personal liability offers a different level of protection than investments through other providers on the market. With those providers, the investor is either a creditor of a special-purpose entity or a shareholder in a fund—in both cases, only the entity’s assets are liable in the event of default. With this PV investment, however, the contract is backed by a specific individual with their entire net worth. This makes the model more transparent for private individuals and retail investors than many other forms of investment in the photovoltaic sector.
How this photovoltaic investment differs from other types of investments
Distinction: Not all “photovoltaic investments” are the same
The term “photovoltaic investment” encompasses a wide variety of models. On crowdfunding platforms and through energy cooperatives—usually organized as registered cooperatives (eG)—many citizens invest small amounts, often via a subordinated loan with a fixed interest rate. This should be distinguished from municipal participation under Section 6 of the EEG 2023, in which operators voluntarily offer host municipalities up to 0.2 ct/kWh (mandatory in Bavaria since January 1, 2026, for ground-mounted systems exceeding 5,000 kW). Inverter yield sharing is neither of these forms: it constitutes ownership of a specific component—for investors contributing €100,000 or more—with personal liability on the part of the owner, rather than a cooperative share or loan claim.
Citizen Participation, Local Participation, and Crowd Investment—The Contrast
These models serve a different purpose. Citizen participation and municipal participation involve communities and local governments in open-space solar park projects through local value creation and acceptance; crowd investment pools many small contributions into a joint financing effort. Both aim for broad participation rather than ownership of a single component. The investor model described here is deliberately the opposite: one investor, one inverter, one contract with personal liability of the owner.
| Structural feature | Inverter Revenue Sharing | PV Fund / Cooperative / Subordinated Loan |
|---|---|---|
| Form of Participation | Ownership of the Inverter | Share, cooperative membership fee, or receivable |
| Earnings Base | Actual electricity output of the specific inverter | Distribution from the total pool or fixed interest |
| Assignment to the Investor | Uniquely identified by serial number and wire harness diagram | Proportion without reference to components |
| Insolvency Priority | Right of Separation with Respect to Property | Subordination or Priority in Insolvency Proceedings |
| Liability of Contractual Partners | Personal liability of the owner of mediplan Helm e.K. | Company Assets of a GmbH or Cooperative |
| Contract term | 20-year initial term, extendable up to 40 years | 3–12 years (subordinated loans) or 10–20 years (funds) |
| Minimum bet | 100.000 € | 50 € to 25,000 € |
| Source: Helm Group 2026 (own presentation) · As of August 2026. The comparison is limited to the structural characteristics of the investment vehicle; returns and tax leverage are discussed in separate articles. | ||
Key Facts About Inverter Revenue Sharing at a Glance
| Parameters | Value |
|---|---|
| Minimum bet | €100,000 in equity |
| Base runtime | 20 years (corresponds to the EEG feed-in tariff period) |
| Renewal Option | up to 40 years total term |
| Expected Return (Base) | 6–10% per year (historical portfolio data) |
| Expected Return with Tax Leverage | up to 10–12% per year (see the tax article for details) |
| EEG Feed-in Tariff for Partial Feed-in ≤ 10 kWp | 7.70 ct/kWh (effective August 1, 2026) |
| Contracting party | mediplan Helm e.K. (registered business) |
| Liability Structure | Personally and without limitation pursuant to Sections 1, 17, and 19 of the German Commercial Code (HGB) |
| Project Partners: Construction and Operations | Logic Energy (a brand of Logic Glas GmbH) |
| Source: Helm Group, 2024 portfolio data · BNetzA remuneration rates effective as of August 1, 2026 · Sections 1, 17, 19 of the German Commercial Code (HGB) | |
These key figures constitute the standard framework. The specific details—the investment, location, marketing structure, and share allocation—are agreed upon on a case-by-case basis and set forth in the investment documentation.
Who Really Needs This Model—and Who Doesn't
This model is typically suitable for entrepreneurs, freelancers, asset managers, and private investors who want to shift a portion of their capital away from interest-bearing investments and into a real, managed asset with a long-term horizon. Those who can see and touch a specific component and track its monthly performance metrics have a different relationship with their investment than someone who receives a fund report in PDF format.
This model is not suitable if the available equity capital is less than €100,000—in that case, ETFs focused on renewable energy, solar bonds, or comparable investment opportunities in solar projects are more appropriate vehicles. It is also unsuitable for investors with a liquidity horizon of less than ten years: An inverter investment is a long-term commitment and relatively illiquid, since, as things stand today, selling it requires a suitable buyer and offers no market liquidity. And those seeking solely to optimize their taxes can achieve the same effect through traditional special depreciation vehicles offered by other providers—in which case, the structural security aspect would be an irrelevant advantage.
What You Should Check Next
First: What is the return on investment in your specific tax situation when the asset’s value is combined with the full range of tax benefits—including the investment deduction, special depreciation under Section 7g of the German Income Tax Act (EStG), and the declining-balance depreciation under the Immediate Investment Program? This question is answered in the article on photovoltaic tax benefits with IAB and depreciation. Second: What is the process from the initial quote through the purchase of the inverter to ongoing cash flow, and which specific system would be a good fit for you? You’ll find the answers on the “Become a PV Investor” page. Third: How does photovoltaics, as an asset class, fit into your overall asset structure? The Pillar article “Photovoltaic Investment 2026” provides this comparison.
The Helm Group has been active in various industries for over four decades; with Logic Energy, it has established a partner for the photovoltaic market in Germany that operates according to the same principle: its own capital, its own components, its own risk, and its own responsibility. That is the idea behind the inverter revenue-sharing model.
Is the inverter revenue-sharing model right for you?
An initial consultation—lasting one hour—will determine whether Logic Energy’s investment model is a good fit for your situation—a specific component, a specific facility, or a specific owner with personal liability under Sections 1, 17, and 19 of the German Commercial Code (HGB).
Frequently Asked Questions (FAQ)
What is the inverter revenue share, in a nutshell?
The inverter yield-sharing model is an investment model in which the investor acquires ownership of a specifically designated inverter in a photovoltaic system and receives a share of the actual electricity yield generated by that component. The contracting party is mediplan Helm e.K., and the project partner for construction and operation is Logic Energy.
Why is the connection made through the inverter and not through the modules?
The inverter is the only component at which the electricity fed into the grid can be measured in a technically unambiguous and verifiable manner. Modules supply direct current to a shared string; their individual output can only be calculated indirectly. The electricity is fed out of the inverter at exactly one point—this unambiguity makes it possible to accurately track yield-based participation.
Am I the legal owner of the inverter?
Yes. The investor acquires civil law ownership of the inverter within the meaning of Section 903 of the German Civil Code (BGB). In the event of the plant operator’s insolvency, the component is subject to a right of separation and is not part of the insolvency estate. This is the key difference from a subordinated loan. It is still advisable to conduct a contractual review on a case-by-case basis.
Who is my contracting party, and what is their liability?
The contracting party is mediplan Helm e.K., a sister company of Logic Glas GmbH within the Helm Group. As a registered merchant under Sections 1, 17, and 19 of the German Commercial Code (HGB), the owner is personally and fully liable for contractual obligations with both business and personal assets. This liability is not limited to the owner’s capital contribution.
What is the minimum investment amount, and how long does the investment last?
The minimum investment is €100,000 in equity capital. The initial term is 20 years, in line with the statutory EEG feed-in tariff period. An extension option of up to a total of 40 years is available, as photovoltaic systems are technically designed for longer operating periods than the EEG subsidy period.
What happens if the inverter fails or needs to be replaced?
Inverters typically have a technical service life of ten to fifteen years and are generally replaced at least once during their total service life. The replacement is factored into the operating plan, and the reserves are included in the model calculation. For the investor, replacing the component does not affect their share of the revenue but ensures the system’s continued operation over its service life.
What are the tax benefits?
The inverter revenue-sharing arrangement generally qualifies for the tax incentives available for commercial photovoltaic investments—in particular, the investment tax credit, the special depreciation under Section 7g of the German Income Tax Act (EStG), and the declining-balance depreciation under the Immediate Investment Program. The specific details are outlined in the article on photovoltaic taxes and depreciation. A tax advisor should verify whether this applies to your specific situation.
References
- Laws on the Internet – Section 1 of the German Commercial Code (HGB) (Registered Merchant) – Basis for the “e.K.” Legal Form
- Laws on the Internet – Section 17 of the German Commercial Code (HGB) (Business Name) – Management of a Registered Merchant’s Business
- Laws on the Internet – Section 19 of the German Commercial Code (HGB) (Company Suffix “e.K.”) – Disclosure Requirements and Scope of Liability
- Laws on the Internet – Section 903 of the German Civil Code (BGB) (Property) – The Legal Basis for Property Rights Under Civil Law
- Laws on the Internet – Section 48 of the Renewable Energy Sources Act (EEG) (Reference Values for Solar Power Systems) – Basis for Feed-in Tariffs
- Laws on the Internet – Section 51 of the EEG (Reduction in the Event of Negative Prices) – Suspension of Remuneration During Quarter-Hours with Negative Prices
- Federal Network Agency – EEG Subsidies and Subsidy Rates – 7.70 ct/kWh for partial feed-in up to 10 kWp, effective August 1, 2026
- Federal Network Agency – Solar Power Systems and Other Renewable Energy Systems – Direct Marketing and Market Premium Model
- Bern University of Applied Sciences (BFH) – Expected Lifespan of Photovoltaic Inverters – Inverters with a Shorter Expected Lifespan Than the System
- Baden-Württemberg Photovoltaic Network – Service Life and Warranty – Inverters: 10–15 years; Modules: 30 years and more
- Helm Group – About Us – Historical Portfolio Data (6–10% p.a.), Group Structure: Logic Glas GmbH / mediplan Helm e.K.
- Logic Energy – Become a PV Investor – Process Overview, System Types, and Terms of the Investor Model
- Logic Energy – EEG Feed-in Tariffs 2026 – In-Depth Overview of Feed-in Tariff Rates and CfD Reform
- Logic Energy – Negative Electricity Prices and Photovoltaics: 2026 Guide – Regulations Under Sections 51 and 51a of the EEG and Impact on Revenue
Related Articles: Photovoltaics as an Investment · PV Crowd Investing vs. Direct Investment
