April 19, 2024

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[THE INVESTOR] LG Electronics on Dec. 13 unveiled a new energy storage system designed especially for solar power plants with smaller capacities.

LG said it will release what it calls the all-in-one ESS for 100 kilowatt solar power plants. The comprehensive package brings together power conditioning and management systems, batteries and other equipment that can simplify the installation process.

As the package includes a 274 kWh battery, it is capable of storing power that can support roughly 25 households on a daily basis.

The new package includes LG’s power conditioning system and LG Chem’s battery.

LG said the battery also stands out as it maintains 75.4 percent of its performance even after 15 years. The company will also provide a three-year warranty on all parts of the package.

The company said the Korean market for solar power ESS is expected to reach 400 billion won (US$354 million) in 2020, soaring from 110 billion won posted in 2017.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)