Eguana Technologies Inc. (EGT:TSX.V; EGTYF:OTCQB) and Creative Solar USA recently announced the Evolve Home Energy Storage System is now available to homeowners in the U.S. state of Georgia. "The Evolve system allows us to offer a fully-integrated, LG Chem battery-based, AC-coupled solution to our customers. With an attractive price point we expect the Evolve to pick up immediate traction in the South East," explained Russell Seifert, the CEO of Creative Solar.
In July, Creative Solar will become an Eguana certified installer and initial product orders have already been placed, so the first installations will begin immediately. The Evolve energy storage systems will continue to be installed throughout the remainder of this year. Requests for this form of storage have already been made by one quarter of Creative Solar's customers.
Home energy storage allows homeowners with residential solar power systems to store excess electricity generated by them so it can be used at night or on days without sunlight. It also provides backup electricity in the event of a power outage.
Eguana has also formed a partnership with Affordable Solar to provide the Evolve Home Energy Storage System in the Cayman Islands and Turks and Caicos Islands.
Eguana noted that "self-consumption markets are taking off in the Caribbean regions that do not allow excess solar power to be exported back to the grid or do not offer homeowners an incentive to do so. Eguana's AC Coupled system design allows home and condo owners to install a backup power system with or without solar PV. Standalone AC Coupled energy storage systems for single-phase applications represent a significant addressable market within the high-end condo market throughout the Caribbean Islands."
The Evolve system uses LG Chem low-voltage battery modules. It has an output of 5 KW AC based on a 6.5 kWh battery, and can be expanded from 13 to 39 kWh.
[NLINSERT]Disclosure:
1) Jake Richardson compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Eguana Technologies. Please click here for more information.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Eguana Technologies, a company mentioned in this article.
