SPI Energy sub Solar Juice will distribute LG Chem’s new 10-kWh residential energy storage system in Australia
Written By: Stratton Report
October 31, 2016
On October 31, SPI Energy Co., Ltd. announced that its Solar Juice Pty Limited subsidiary, an importer and distributor of solar related products in Australia, was selected by LG Chem, Ltd. to distribute its RESU home energy storage system in Australia and New Zealand.
Solar Juice was the first distributor of the LG Chem RESU3.3 and RESU6.5 battery systems. The LG Chem’s RESU10 400V, 10-kWh batteries will be commercially available in late 2016.
Xiaofeng Peng, Chairman and CEO of SPI Energy remarked:
“With its long lifespan and top-notch quality, the LG Chem RESU batteries are fully capable of stored solar-energy usage during night time and thus significantly reduces electricity expenses for households with installed solar PVs. Australia is an ideal market for home energy storage, where over 1.5 million households, or approximately 1 in every 4 homes, currently have installed solar PVs. As a result, Solar Juice is well positioned to capture this large and growing market opportunities as a leading wholesale distributor”
Rami Fedda, Cofounder and Supply Director of Solar Juice commented: “We are very excited to introduce LG Chem’s new RESU series to the Australian market. High energy densities and outstanding performances of the new RESU series are superior to those of other products. The new RESU series cover both indoor and outdoor installations with both low and high voltage options available. The storage market opportunity in Australia is tremendous, and Solar Juice is delighted to be partnered with one of the leading players in this space. For a country that has been one of the largest residential PV markets over the past five years, we are about to witness a massive transformation with the adoption of storage, and Solar Juice is well-positioned at the forefront of this change.”
Jin Yong Park, Director of LG Chem noted: “LG Chem is very pleased with the great success Solar Juice has achieved with our first generation of RESU product. Furthermore, we are excited by great interest Australian market has showed, regarding our new RESU series. We are looking forward to becoming more active in Australian energy storage market by cooperating with Solar Juice.”