Vivint Solar, Inc. (NYSE: VSLR), a leading full-service residential solar provider, announced it is now offering LG Chem RESU batteries, an energy storage system for household use, directly to its California customers. The company plans to expand this solar plus storage solution coast to coast throughout 2018.
"This adaptation underscores our commitment to expanding access to the best-in-class clean energy technologies for our customers," said Vivint Solar CEO David Bywater. "RESU is one of the most popular energy storage systems on the market and enables homeowners to take a meaningful step toward energy self-sufficiency. Home batteries can help our customers gain greater control over the renewable energy they generate and play a pivotal role in maximizing value from their clean energy ecosystems."
Following a customized professional installation by Vivint Solar, the battery immediately stores excess clean energy produced by the solar panels and delivers energy to the home without the customer needing to do anything. It also provides emergency backup power during grid outages.
The solar plus storage solution can help further cut utility bills of customers in areas with time-of-use electricity rates (i.e. electricity costs change throughout the day). For example, customers in time-of-use areas can avoid peak hour costs day and night by using clean solar energy stored in the home battery system for consumption during these costlier periods.
LG Chem is the global leading supplier of advanced lithium-ion batteries for residential and grid-scale storages. Featuring a compact and slim design, the RESU battery allows easy wall-mounted installation both indoors and outdoors. LG Chem's Lamination & Stacking technology is highly durable in ensuring the storage system's retention of capacity for over 10 years. It is also compatible with Vivint Solar's power inverters, eliminating the need for customers to install a dedicated battery inverter.
New customers in California can buy the offering outright or finance the purchase, either through an institution Vivint Solar has a relationship with or a customer's preferred lender.
Vivint Solar | http://www.vivintsolar.com
LG Chem | http://www.lgchem.com