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Panasonic enters global agreement with US solar inverter maker to produce energy storage systems

Thu, 02/07/2013 - 17:36 -- Ruth Williams

Japanese battery manufacturer Panasonic has entered into a global strategic alliance with US solar PV inverter manufacturer Power-One to develop, produce and market energy storage systems for residential and non-residential markets. 

Panasonic is promoting energy management for business that combines high-efficiency solar panels, power inverters and power-storage systems in the domestic housing market. Last year, it announced it will commence mass-producing a compact long-life lithium-ion battery system for home solar power applications.

Initially, the partnership will focus on the residential, commercial and utility-scale, grid-connected, energy storage systems business in Europe and the US. The partnership will also cover the development and marketing of energy storage systems for the Japanese non-residential segment and partner on the large-scale commercial and utility PV inverter business in Japan.

Under its mid-term business plan, Panasonic is aiming for annual sales of at least Y100 billion ($1.1 billion) for stationary power storage systems by 2018.