Increasingly, renewable energy technology installations are being paired with power storage technology, a trend underscored by Hanwha SolarOne's $8 million investment this week in Silent Power.
Korea's Hanwha Group is the lead investor in Silent Power's Series B funding. Its money will go toward supporting a co-marketing strategy that bundles Hanwha SolarOne's photovoltaic panels with Baxter, Minn.-based Silent Power's distributed energy storage platform, OnDemand Energy Appliance. The first bundle will be available in September 2012.
"We know from our customers that energy storage is an essential key to unlocking the full potential of renewable energy," said Charles Kim, president of Hanwha Solar One. "It enables a smarter energy grid and achieves reliability and value for a solar system."
OnDemand stores excess energy that isn't needed during peak production for use at a later time. The technology is battery-agnostic: It can use lithium-ion, sealed lead acid and advanced lead-acid battery packs. . .View Full Article