Jessica Twentyman for Internet of Business:  Automaker Renault is partnering with UK-based smart home energy storage specialist Powervault in a deal that will see batteries previously used to power electric vehicles (EVs) redeployed to store solar power in homes.

Renault is Europe’s number one EV manufacturer: sales of the Renault Zoe in Europe grew 15 percent in 2016 to 21,240 units, ahead of the Nissan Leaf (18,310 units sold) and the Tesla S Model (11,564 units).

Powervault, meanwhile, has developed a smart home battery system that enables homeowners to store energy from their own solar panels but can also automatically store using low-cost, off-peak energy from the grid. This combination, the company claims, can save homeowners up to 35 percent on their electricity bills.

The batteries used in EVs typically have a lifetime of around eight to 10 years, but once retired from vehicular use, can still be used in stationary applications – such as home energy storage, for example. In this way, they become what is known as ‘second life’ batteries.  Full Article: