LG Chem releases ESS products in Europe

By Kim Yoo-chul

LG Chem said on Tuesday that it has started selling its brand-new energy storage systems (ESS) products in Australia and Europe.

In a statement, the world's top manufacturer of rechargeable batteries said its RESU 6.4 EX (Extended) ESS for use in households was an upgraded version. The product has storage capacity of 6.4 kilowatt per hour (kWh) if connected with solar panels installed on buildings.

"The maximum capacity could rise to 12.8 kWh according to the situation," said the company.

Mentioning its own study ― daily electricity consumption of households in Europe is between 10 and 15 kWh ― LG said the extended ESS product is able to meet all electricity needs.

The products will be exhibited in the upcoming renewable energy technology fair in Munich, Germany, to be held from June 10 to 12.

"LG Chem plans to collaborate with Solar Juice, the top solar product producer in Australia, and Baywa of Germany, the biggest retailer in renewable energy products in Europe, to promote the RESU 6.4," it said.

The global demand for ESS for households is expected to increase to 3.5 trillion won by 2020 from this year's estimated 430 billion won, with Europe playing a leading role, according to data from Navigant Research, a market research firm.