Sustainable Energy Raises the Bar for Grid-Tie Energy Storage: PARALEX "GTS" Opens New "Smart Grid" and "Micro-Grid" Market Opportunities
Highlights: ∑ Enables utility dispatch control of distributed storage with lithium ion and lead acid batteries for improved voltage control higher power quality and improved grid stability ∑ Enables material increase in grid-interactive storage system efficiencies today with proven market-ready product platform ∑ Meets emerging European demand for cost effective, high-efficiency storage of solar power for on-site consumption ∑ Gateway to higher utilization of distributed renewable energy in "smart grids" and "micro-grids" ∑ Discussions underway to OEM PARALEX GTS as part of integrated solar PV energy storage systems
Toronto, Ontario – November 4, 2011: Sustainable Energy Technologies Ltd (TSX V:"STG") ("Sustainable Energy") Canada's leading inverter company announced today that it will manufacture a 4.6kW high-efficiency inverter for grid-interactive 48 volt lithium ion and lead acid battery packages.
Based on the proven PARALEX solar inverter platform, PARALEX "GTS" will target an immediate demand in Germany for grid interactive inverters to store solar energy for on-site consumption driven by incremental tariffs of up to 0.09 Euros per kilowatt hour. PARALEX GTS will enable total system efficiencies which are estimated to be 4% - 5% higher than the highest efficiency alternative in the market and can be delivered at a cost that is materially lower than competitive alternatives.
The Company is in discussions with a limited number of power supply companies to use PARALEX GTS in combination with their own inverters or the PARALEX solar inverter for this application. "We see this application as a wedge into Germany for the PARALEX solar inverter and we are very excited with the level of unsolicited interest that we are receiving," commented Michael Carten CEO of Sustainable Energy. "PARALEX GTS is proven and market ready for Europe in Q1, 2012. Our strategy is to OEM the product with established companies in Europe with a goal to be in the market by the end of Q1, 2012."
Sustainable Energy sees the energy storage market as a significant long term opportunity for the Company's core technology and one that is just beginning to mature. Says US Energy Secretary Steven Chu (The Hill E-2 Wire July 15, 2011): "…energy storage is crucial to our future… It is the key to greatly expanding the use of renewable energy sources and… [making] our entire electricity generation and distribution system more efficient by smoothing out fluctuations in demand."
High efficiency inverters capable of dispatching power from storage devices on demand by the utility will be a critical part of the smart grid phenomenon. Efficiencies are doubly important in this application since the losses on energy conversion occur on charging and discharging the battery.
"Longer term, the grid interactive energy storage application is a very substantial opportunity for the Company's technology and a hidden value in Sustainable Energy. The emergence of the German incentive program is a terrific opportunity to showcase this value to the world," added Carten.
The PARALEX GTS capabilities are based on advanced software controls and a simple, robust circuit developed and proven by Sustainable Energy in collaboration with German utility RWE AG for stationary fuel cells. The inverter platform incorporates an open communications platform which will support the dispatch of customer-sited storage by the utility to assist in maintaining grid stability, and the deployment of flexible micro-grids in remote and developing regions.
About Sustainable Energy:
Sustainable Energy (www.SustainableEnergy.com) is a Canadian solar inverter company which supplies Canada, the U.S. and Europe. The Company's patented inverter technologies are a breakthrough in power inverter design and capabilities for all forms of distributed generation and smart grid applications.