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SMA and LG Chem team up in solar storage

As the residential storage market is heating up, PV inverter maker SMA Solar and Korean chemicals giant LG Chem from December 2016 on will offer a joint residential solar storage solution in Europe and Australia that they say will bring significant cost savings for consumers.

“Photovoltaic power is less expensive than the electricity rate charged by regional utility companies in many European countries for private households,” said SMA chief executive Pierre-Pascal Urbon.

“By using the new SMA / LG Chem package, private households can reduce their electricity bill by more than 80% and decouple from the trend of rising electricity prices.”

Batteries by LG Chem during the first half of 2016 made up 13% of the about 19,000 solar energy storage systems (ESS) sold in Germany, or 13% of the market, according to researcher EuPD. That was second only to market leader Sonnen with a 26% share.

In the smaller Australian market, LG Chem was market leader during that period, commanding 30% of a market with about 1,000 sales of solar ESS.

The storage solution offered by the two companies will comprise of SMA’s Sunny Boy Storage 2.5 battery inverter coupled with 10kWh or 7kWh storage capacity provided by LM Chem.

The two companies also plan to expand their collaboration to utility-scale storage, but gave no detail about that.

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