LG has quickly made a name for itself across the world with its electronics. Now, it’s entering the residential energy storage business thanks to a new partnership with Sunrun.
Through the partnership, Sunrun will use LG Chem’s lithium-ion RESU batteries in its BrightBox energy storage system to go with its solar rooftop installations to help homeowners save even more money on their utility bills. It will also make the RESU battery system available through its subsidiary AEE Solar to the entire North American solar industry.
“The energy storage market is advancing at a breakneck pace,” said Sunrun Chief Marketing Officer Michael Grasso.
Indeed it is. Tesla entered the energy storage market recently with its Powerwall system, which Sunrun previously used in its BrightBox energy storage system. This news also comes a day ahead of a much-hyped announcement from Tesla/SolarCity about their new integrated solar roof product.
While Tesla’s EV currently uses Panasonic battery technology, Sunrun said LG Chem is the world’s largest automotive battery supplier with 16 of 29 top global automakers using its batteries. The company added that it’s batteries have a successful track record in the electric vehicle market offering performance, durability and affordability.
“Sunrun understands the importance of giving consumers control of their energy by integrating storage with solar. Therefore Sunrun is the right partner for the launch of our residential energy storage product, the new RESU—a winner of ees Award at Intersolar Europe this year—into the North American market. With Sunrun BrightBox, Sunrun’s at the forefront of solar plus energy storage innovation,” said Wonjoon Suh, Global Marketing Department Leader of ESS Battery Division, LG Chem. “We share Sunrun’s commitment to innovation and delivering quality solutions to customers. We look forward to bringing our advanced battery technology to the growing North American residential solar market.”
The Sunrun BrightBox works with a customer’s rooftop solar system to give the consumer more ways to manage their electric use and maximize the benefits of energy storage. For instance, power from the panels that’s not used when it’s produced can be used later when energy charges are highest for those customers with peak or time-of-use charges and excess energy from the system can be put back on the grid when it maximizes returns on the investment. It can also allow customers to use electricity when the grid goes down. Something solar power alone can’t do.
“At Sunrun, we are enabling a home energy management service that integrates rooftop solar generation with onsite energy storage to offer greater energy choice and savings to our customers while helping to modernize the grid,” Grasso said. “We’re thrilled to offer LG Chem’s best-in-class battery technology to homeowners. The partnership with LG Chem supports our financing advantage, enabling our customers to install solar plus energy storage for little to no money down.”
Currently, the BrightBox is available in Hawaii through a monthly or prepaid lease for little to no money down or as a direct cash or loan purchase, Sunrun said. It plans to expand availability to additional states in coming months.Tweet