Race for Home Power Storage Pits British Startup Against Tesla

Renewable Energy World ----- A U.K. energy-storage startup is aiming to take on Tesla Inc. in the competition to outfit homes with affordable backup battery power. Powervault Ltd. is preparing to boost production of its lead-and lithium-ion batteries, said Managing Director Joe Warren. The London-based company is targeting sales of 50,000 units a year by 2020, up from about 1,000 this year, he said. "We have a huge market to go after in the U.K.," said Warren, a data center operator turned battery-maker who's entering the home storage market just as billionaire Elon Musk switches on Tesla's U.S. Gigafactory. Musk expects the plant will double the global production of lithium-ion batteries next year. Energy storage is an essential link needed to make intermittent solar and wind energy reliable. Batteries installed inside homes can store excess energy produced by panels or windmills during peak hours of operation. When combined with smart meters and digital technologies, batteries can help utilities regulate the grid by providing power reserves which can be tapped and transmitted on demand. To learn more about the race for home power storage pits British startup against Tesla click on the picture below to read the article.