What’s next for the UK solar industry?
A solar panel company is set to launch a new battery product in Britain, in the wake of the government’s new solar fuel standard.
The new solar energy storage battery is said to be made by SolarPower, with the company saying it will offer the product at a low price.
The company said the new battery will be cheaper than the existing battery technology, but will still offer high-end battery performance and capacity, according to the BBC.
“The new battery is made by an emerging global battery manufacturer with a focus on innovative technologies to increase its competitive advantage over its rivals,” said a SolarPower spokesperson.
“It has been designed and tested by an experienced battery engineer who has built the technology into its latest generation battery.
This is the first battery designed and developed by a British company in the UK.”
The new product, SolarPower’s High Performance Energy Storage (HPS) battery, is expected to go on sale in the third quarter of 2018, the company said.
HPS batteries are capable of storing large amounts of energy.
SolarPower said it has the potential to offer more energy storage to its customers than existing batteries, but said it needs to prove it can be profitable at the rate of more than $30 per kilowatt hour (kWh) to make the technology profitable.
While the new product is still in the development stage, SolarPOWER, which has a subsidiary in the United States, said it would offer customers an alternative option to buying batteries.
“The company believes that our innovative solar battery technology will offer a significant benefit to our customers, with significant cost savings, higher efficiency and lower emissions than the current battery system,” SolarPower said in a statement.
“We believe this product is the most viable option to offer our customers and we look forward to offering it at a competitive price.”
A new solar panel technology called High Performance Battery has already been developed for energy storage by Solar Power.
SolarPower announced in November 2017 that it had developed a new solar battery based on the High Performance Advanced Solar Battery (HAPS), which is capable of producing up to 1,000 kilowatts of power.
HSBC Capital Markets analyst Paul Walker said that the HPS battery technology is still at an early stage, and has only been tested in a small number of battery plants in Europe.
“HSBC has been watching the development of this battery technology for several years, and is currently awaiting further confirmation of its utility utility scale application,” Walker said.