Dive Brief:
- Verengo Solar and Swell Energy have joined together to offer a home energy storage and backup power solution for the residential market that they say can power a home for one day or, when paired with solar power, indefinitely, Renewable Energy World reports.
- Verengo will become a preferred installer of Swell's lithium-ion home battery products.
- Swell is offering a variety of battery storage financing programs to California homeowners that are similar to Verengo's $0 down rooftop solar leasing plan.
Dive Insight:
A growing number of battery and solar power companies are pairing up to gain market share in the residential storage market.
In February, Sonnen teamed up with SolarWorld to tap the U.S. market for energy storage. In January, SolarEdge Technologies announced a collaboration with Tesla to provide inverters for Tesla’s Powerwall residential battery.
The latest pairing is between two Southern California companies, Verengo Solar and Swell Energy, which say they plan to offer the market a “one stop, turnkey” solution for energy storage or energy storage combined with rooftop solar panels.
"We are seeing tremendous demand for home batteries, driven largely by advances and cost reductions in smart, lithium-ion battery technology, combined with increasing concerns around power outages and grid vulnerabilities among homeowners," Swell Energy co-founder Andrew Meyer, said in a statement.
The companies say the Swell storage system allows homeowners to create a “protective barrier” between their home and the grid, giving them independence from the volatility of grid-supplied energy.
"With the federal and state rebates now available and the rapid drop in panel and battery prices, rooftop solar and home storage are no longer a rich homeowner's dream they are a smart consumer's reality," Verengo CEO Dan Squiller said.
