TORONTO — Advanced battery manufacturer Electrovaya Inc. has launched a lithium-ion energy storage system for home use.
The battery gathers power from the grid or from solar panels and stores it for later household use.
Electrovaya said consumers subject to time-of-use charges can use the EnergyBlock to store off-peak power for use during peak times. It notes that in some regions, utilities occasionally provide negative pricing to dump excess power when demand is very low, so users may actually be paid to store energy.
“We’re expecting this product to be very popular in places such as Germany and Japan as they move away from nuclear power towards sustainable alternative energy,” says Sankar Das Gupta, Electrovaya’s CEO.
“Asia is another key market, with an incomplete electric grid, and we believe there will be a large market opportunity in North America, where we’re paying twice as much for peak power and need a way to store cheap off-peak power.”
Systems are available in sizes from 3 kWh to 20 kWh, although Electrovaya recommends 7 kWh for most households.