Distributed energy storage company Eguana Technologies has partnered with lithium-ion battery company LG Chem to launch an AC battery for the North American residential market by the middle of the year.
The AC Battery, which is expected to be available for commercial shipping in about three months’ time, is an energy storage solution that can be paired with energy storage management systems currently coming to market, said Eguana.
Residential consumers can use the battery to store electricity from solar and use it during evening hours, or it can be used by fleet aggregators to provide utility grid management services including voltage control, frequency regulation, demand response and load balancing, or as a retrofit to solar PV installations already in place.
The race is on to develop a residential-use battery pack with Tesla Motors in mid-February saying it was six months’ away from launching a home energy storage system.
Tesla said it had finished the design of a pack powerful enough to electrify a house and “we are going to unveil the Tesla home battery, the consumer battery that would be for use in people’s houses or businesses fairly soon,” said the company’s CEO Elon Musk.
Investment increases in battery storage
In other battery and storage news, venture capital companies invested US$69 million in seven smart energy companies during the first quarter of 2015.
Investment into battery and storage companies increased from US$47 million in the last quarter of last year, according to Mercom Capital Group, a Texas-based market intelligence company.
The top deals include US$20 million raised by Boston Power, a manufacturer of lithium-ion batteries for electric vehicles and stationary energy storage, and US$20 million raised by Sakti3, a developer of solid-state rechargeable lithium-ion battery technology.
Eos Energy Storage, a developer and manufacturer of zinc hybrid cathode energy storage solutions for electric utilities, raised US$15 million.
TAS Energy, an energy storage solutions provider that combines turbine chilling with thermal energy storage tanks, raised US$10 million, and ZAF Energy Systems, a developer of nickel-zinc and zinc-air battery technologies, raised US$2.2 million.