Headquartered in London, Powervault bills itself as manufacturing the country’s “first fully-integrated solar energy storage system for the home.” The start-up, which started back in 2012, announced on Wednesday the launch of its new range of home energy storage products, “equipped for the smart power revolution, a transformation of our energy system forecast to save consumers billions of pounds.”
Powervault’s new products automatically charge up when power is cheaper, storing it for use during the more expensive peak times. When used in conjunction with any solar PV system, Powervault enables you to use more of the power generated by your solar system, by storing it for use later.
“Our new products will allow customers to seize the opportunities of the smart power revolution,” said Joe Warren, Powervault Managing Director. “Smart tariffs plus storage will allow them to slash their power bills by buying electricity off-peak, and there will also be opportunities to benefit from helping the national grid to store and use more of the solar or wind energy that it generates.”
“We expect energy storage systems will soon be of interest to every home in the country and we aim to sell 50,000 units by 2020 and become a household name. Ultimately we believe that a Powervault in the home will be as common as a dishwasher.”
Powervault also announced a £1 million investment round to accelerate the roll-out of its new product line via the crowdfunding site, Crowdcube. Powervault is working alongside such big names as Nissan, Tempus Energy, and Open Energi, “to help pioneer a cheaper, greener electricity system which will enable consumers benefit directly from the smart power revolution.”