Batteries

Published on August 15th, 2014 | by Zachary Shahan

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Suntech Invests In Grid-Scale Energy Storage Company

August 15th, 2014 by  

powin energy storage system suntech

Originally published on Planetsave.

Suntech was the largest solar module manufacturer in the world for years, then a combination of some illegal moves and a harsh financial environment for solar module manufacturers crushed the company, leading it to bankruptcy. Suntech is finally on the upswing after all of that. However, rather than focusing solely on solar, the Chinese company is now looking to get into the next big emerging market, energy storage.

Suntech has reportedly invested $25 million into US energy storage company Powin Energy. That gives it a 30% stake in the company. Suntech also gets to appoint 4 of the 7 Powin Energy board members, and it can also acquire another 30% of Powin Energy with a $37.5 million investment.

Powin Energy uses lithium-ion batteries in its battery energy storage system. The storage system is for grid-scale energy storage.”Each unit has a total useful storage capacity from 250 to 500kWh with power converters capable of both charging and discharging the storage battery at a rate of 60 to 240kW using commands sent over a web-based user interface.”

Image Credit: Powin Energy


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About the Author

is tryin' to help society help itself (and other species) with the power of the typed word. He spends most of his time here on CleanTechnica as its director and chief editor, but he's also the president of Important Media and the director/founder of EV Obsession, Solar Love, and Bikocity. Zach is recognized globally as a solar energy, electric car, and energy storage expert. Zach has long-term investments in TSLA, FSLR, SPWR, SEDG, & ABB — after years of covering solar and EVs, he simply has a lot of faith in these particular companies and feels like they are good cleantech companies to invest in.



  • Vensonata

    What a superb buffet of battery news lately. Any hints about price? ( by the way the author uses “kwh battery storage”, how come I get interrogated when I do that? That abbreviation is correct, is it not?)

    • IMPOed

      250 kWh would be huge, but I do not see why not, if you were discussing total storage capacity.
      There are prices here,
      http://www.solar-electric.com/

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