Solar plus storage option offers greater control over renewable energy customers produce
Vivint Solar, Inc. (NYSE: VSLR), a leading full-service residential solar provider, announced today 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.
For more information about product availability, visit vivintsolar.com/battery.
About Vivint Solar
Vivint Solar is a leading full-service residential solar provider in the United States. With Vivint Solar, customers can power their homes with clean, renewable energy and typically achieve significant financial savings over time. Offering integrated residential solar solutions for the entire customer lifecycle, Vivint Solar designs and installs the solar energy systems for its customers, and offers monitoring and maintenance services. In addition to being able to purchase a solar energy system outright, customers may benefit from Vivint Solar's affordable, flexible financing options, power purchase agreements or lease agreements, where available. For more information, visit www.vivintsolar.com or follow @VivintSolar on Twitter.
About LG Chem
LG Chem is one of the world's largest manufacturers of lithium-ion batteries and leads the global market for advanced batteries for grid-scale, residential storage and automotive applications. Its advanced knowhow in lithium-ion batteries is thanks to 23 years of experience in R&D and production of mobile and large-format batteries for automotive and energy storage systems (ESS). LG Chem's commitment to being a technological leader in this sector, coupled with efficient and high-quality manufacturing processes, produces batteries that exhibit the highest levels of safety, performance and reliability. For more information, please visit http://www.lgchem.com/global/main.