Storage is expected to become the key growth driver of the solar industry. SMA Solar Technology AG (SMA) and LG Chem Ltd. have now partnered to serve this thriving market segment. The companies worked together to develop a highly flexible and cost-efficient solution to store photovoltaic power and thus reduce the consumer cost of electricity by more than 80%. The new storage solution is tailored for use in private households and comprises SMA’s Sunny Boy Storage 2.5 battery inverter and LG Chem’s RESU 10H and 7H storage units. Going forward, the two market leaders are planning to expand the focus of their collaboration on utility-scale storage solutions with the SMA Sunny Central Storage battery inverter.
"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 Officer Pierre-Pascal Urbon. "Private households want to leverage their investment in a photovoltaic system by investing in storage systems. The new and future-proof solution from SMA and LG Chem is tailored for use with existing and new residential photovoltaic systems. 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. With the RESU storage unit and Sunny Boy Storage battery inverter, the new solution combines two highly innovative devices, which were both awarded the ees Award at this year’s Intersolar Europe. The results of SMA and LG Chem’s joint efforts offer the best storage system package to the most relevant markets, particularly in Europe and Australia."
"LG Chem and SMA are innovative companies and leaders in this industry, and we have been working together since we introduced our first residential energy storage system in Germany in 2012," said Sung Hoon Jang, Ph.D, Senior Vice President of LG Chem and Head of ESS Battery Division. "We are pleased to strengthen our long–lasting, strategic business partnership and announce the launch of the new RESU with Sunny Boy Storage. The combination of RESU 400V lineup storage integrated with Sunny Boy Storage will have a great impact in the European and Australian residential storage market. We expect this new technology to become a stepping stone that will enable more people to use renewable energy at home around the globe."
The new high-voltage storage solution with the RESU 400V lineup and the Sunny Boy Storage battery inverter will be available with 7kWh and 10kWh storage capacity. Thanks to AC-coupling, the solution is extremely flexible, and all SMA PV systems are "storage-ready" regardless of the installation date. The system can be adjusted to meet individual customer needs and can be expanded at any time. It is easy to install and can be used both with new and existing PV systems. Customers that want to make use of all the advantages of a flexible system, but prefer to use low-voltage technology, can choose a storage solution that combines the low-voltage variant of the RESU storage unit with the Sunny Island battery inverter from SMA.
In addition, the online portal Sunny Places gives users of both storage solutions a transparent overview of their home, giving them a view of their household energy flows and access potential savings. And with the Sunny Home Manager, the system can be integrated into a comprehensive energy management system, if needed.
According to IHS Markit’s Energy Storage Inverter (PCS) Report 2016, SMA is the global leader in sub-100 kilowatt energy storage inverters, and LG Chem ranks first in the Navigant Research Leaderboard Report Li-Ion Grid Storage. With their partnership, both companies are working to continually offer their customers state of the art technology resulting in the highest client benefit and an outstanding price-performance ratio.
The storage solutions from SMA and LG Chem will be available in Europe and Australia December 2016.
About LG Chem Ltd.
LG Chem, Ltd. is Korea’s largest diversified chemical company which operates three main business units: Petrochemicals, IT & Electronic Materials and Energy Solution. The chemical business manufactures a wide range of products, from petrochemical goods to high-value added plastics. It also extends its chemical expertise into high-tech areas such as electronic materials and rechargeable batteries field. Based on the many years of experience in the development and production of batteries, LG Chem is one of the world's leaders in energy storage systems. As such, the company is a primary supplier for the mobile and automotive industry around the world. Entering the business of ESS in 2010, LG Chem has constantly developed and supplied innovative solutions for the ESS market segments such as Grid, Residential and UPS. Throughout multiple production facilities and an extensive distribution network globally, LG Chem has become a global leading company.
Disclaimer:
This press release serves only as information and does not constitute an offer or invitation to subscribe for, acquire, hold or sell any securities of SMA Solar Technology AG (the "Company") or any present or future subsidiary of the Company (together with the Company, the "SMA Group") nor should it form the basis of, or be relied upon in connection with, any contract to purchase or subscribe for any securities in the Company or any member of the SMA Group or commitment whatsoever. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended.
This press release can contain future-oriented statements. Future-oriented statements are statements which do not describe facts of the past. They also include statements about our assumptions and expectations. These statements are based on plans, estimations and forecasts which the Managing Board of SMA Solar Technology AG (SMA or company) has available at this time. Future-oriented statements are therefore only valid on the day on which they are made. Future-oriented statements by nature contain risks and elements of uncertainty. Various known and unknown risks, uncertainties and other factors can lead to considerable differences between the actual results, the financial position, the development or the performance of the corporation and the estimates given here. These factors include those which SMA has discussed in published reports. These reports are available on the SMA website at www.SMA.de. The company accepts no obligation whatsoever to update these future-oriented statements or to adjust them to future events or developments.
"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 Officer Pierre-Pascal Urbon. "Private households want to leverage their investment in a photovoltaic system by investing in storage systems. The new and future-proof solution from SMA and LG Chem is tailored for use with existing and new residential photovoltaic systems. 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. With the RESU storage unit and Sunny Boy Storage battery inverter, the new solution combines two highly innovative devices, which were both awarded the ees Award at this year’s Intersolar Europe. The results of SMA and LG Chem’s joint efforts offer the best storage system package to the most relevant markets, particularly in Europe and Australia."
"LG Chem and SMA are innovative companies and leaders in this industry, and we have been working together since we introduced our first residential energy storage system in Germany in 2012," said Sung Hoon Jang, Ph.D, Senior Vice President of LG Chem and Head of ESS Battery Division. "We are pleased to strengthen our long–lasting, strategic business partnership and announce the launch of the new RESU with Sunny Boy Storage. The combination of RESU 400V lineup storage integrated with Sunny Boy Storage will have a great impact in the European and Australian residential storage market. We expect this new technology to become a stepping stone that will enable more people to use renewable energy at home around the globe."
The new high-voltage storage solution with the RESU 400V lineup and the Sunny Boy Storage battery inverter will be available with 7kWh and 10kWh storage capacity. Thanks to AC-coupling, the solution is extremely flexible, and all SMA PV systems are "storage-ready" regardless of the installation date. The system can be adjusted to meet individual customer needs and can be expanded at any time. It is easy to install and can be used both with new and existing PV systems. Customers that want to make use of all the advantages of a flexible system, but prefer to use low-voltage technology, can choose a storage solution that combines the low-voltage variant of the RESU storage unit with the Sunny Island battery inverter from SMA.
In addition, the online portal Sunny Places gives users of both storage solutions a transparent overview of their home, giving them a view of their household energy flows and access potential savings. And with the Sunny Home Manager, the system can be integrated into a comprehensive energy management system, if needed.
According to IHS Markit’s Energy Storage Inverter (PCS) Report 2016, SMA is the global leader in sub-100 kilowatt energy storage inverters, and LG Chem ranks first in the Navigant Research Leaderboard Report Li-Ion Grid Storage. With their partnership, both companies are working to continually offer their customers state of the art technology resulting in the highest client benefit and an outstanding price-performance ratio.
The storage solutions from SMA and LG Chem will be available in Europe and Australia December 2016.
About LG Chem Ltd.
LG Chem, Ltd. is Korea’s largest diversified chemical company which operates three main business units: Petrochemicals, IT & Electronic Materials and Energy Solution. The chemical business manufactures a wide range of products, from petrochemical goods to high-value added plastics. It also extends its chemical expertise into high-tech areas such as electronic materials and rechargeable batteries field. Based on the many years of experience in the development and production of batteries, LG Chem is one of the world's leaders in energy storage systems. As such, the company is a primary supplier for the mobile and automotive industry around the world. Entering the business of ESS in 2010, LG Chem has constantly developed and supplied innovative solutions for the ESS market segments such as Grid, Residential and UPS. Throughout multiple production facilities and an extensive distribution network globally, LG Chem has become a global leading company.
Disclaimer:
This press release serves only as information and does not constitute an offer or invitation to subscribe for, acquire, hold or sell any securities of SMA Solar Technology AG (the "Company") or any present or future subsidiary of the Company (together with the Company, the "SMA Group") nor should it form the basis of, or be relied upon in connection with, any contract to purchase or subscribe for any securities in the Company or any member of the SMA Group or commitment whatsoever. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended.
This press release can contain future-oriented statements. Future-oriented statements are statements which do not describe facts of the past. They also include statements about our assumptions and expectations. These statements are based on plans, estimations and forecasts which the Managing Board of SMA Solar Technology AG (SMA or company) has available at this time. Future-oriented statements are therefore only valid on the day on which they are made. Future-oriented statements by nature contain risks and elements of uncertainty. Various known and unknown risks, uncertainties and other factors can lead to considerable differences between the actual results, the financial position, the development or the performance of the corporation and the estimates given here. These factors include those which SMA has discussed in published reports. These reports are available on the SMA website at www.SMA.de. The company accepts no obligation whatsoever to update these future-oriented statements or to adjust them to future events or developments.
