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| LG Electronics solar power energy storage system / Courtesy of LG Electronics |
By Baek Byung-yeul
LG Electronics rolled out energy storage systems (ESS) for small-sized solar power plants to take the lead in the growing ESS market, the tech giant said Thursday.
Using large-scale batteries, the ESS stores energy and distributes power when required. With the government's policy weighing in on eco-friendly renewable energy, the solar power ESS market is also expected to grow rapidly here.
According to industry data from ESS business, the local solar power ESS market was estimated at 110 billion won ($97.8 million) in 2017 and is presumed to grow to over 400 billion won ($356 million) by 2020.
With its new product, LG said it will lead the country's fast growing ESS market for solar power plants.
"Offering industry leading products and reliable after sales service, LG plans to lead the growing solar power ESS market here," an official of the firm said.
LG said its new ESS product is optimized for a solar power plant that can produce 100 kilowatts.
For easier installation, the product comes as an all-in-one package that combines a power conditioning system, power management system, battery, cooling and heating system, fire extinguishing system and other equipment. LG said it also offers a three-year warranty for every part of the product.
The new ESS uses the LG Electronics' power conditioning system and high quality 274 kilowatt hours (kWh) battery made by LG's battery-making affiliate LG Chem. The battery maintains 75.4 percent of its performance after 15 years.
LG said its ESS is optimized for a 100 kilowatt solar power plant, which can produce about 370 kWh a day.
"Given a household in Seoul consumes 304 kWh of power a month on average, the average amount a household uses a day would be at around 10 kWh. So, LG's ESS can supply power for about 25 households on a daily basis," LG said.
To enhance safety performance, customers can check the status of solar power plants and ESS in real-time using their PCs or mobile devices. Using a remote-control system, customers are also allowed to control the power conditioning system and battery of the ESS.
LG added solar power plant operators who use the ESS facility can receive five times the Renewable Energy Certification (REC), an incentive system made by the government. To foster the renewable energy market, the government has provided incentives to solar power plant operators who use ESS facilities together. The REC can be traded like stock.
