This month, LG Energy Solution was spun off from LG Chem in a move to better serve the emerging energy solution category. “We came to the decision that this is the right time for a corporate spin-off as the battery industry is growing rapidly and structural profits in the EV battery sector are accelerating,” the company noted. “We are investing over $2.6 billion annually in facility expansion, and therefore, there is a need to procure large investment funds to finance this growth in order to keep up with an upsurge in orders across industries.”
The new corporation will include battery materials, cells, pack manufacturing and sales. LG Chem plans to foster the new corporation to become the world’s best energy solutions company for not only battery materials, cells, pack manufacturing and sales, but also to have distinguished competitiveness in the E-platform sector that offers various services throughout the lifetime of batteries such as battery care/lease/charging/reuse.
The first big feather in the cap of LG Energy Solution is the unveiling of LG’s latest and greatest home battery solution, the LG RESU Prime. This beefed up home battery provides a maximum of 16 kWh of energy and high power of 7 kW. What’s more, the new generation of LG RESU batteries sport a modular design, allowing for streamlined transportation, handling and installation. The LG RESU line also features RESU Monitor, LG Energy Solution’s advanced remote monitoring system to watch battery conditions in real time and arming installers with info to proactively diagnose any issues. The full LG RESU Prime lineup includes:
LG RESU16H Prime. This is LG’s largest battery in the category to date, capable of housing enough electricity needed to effectively run a whole home. A single pack offers 16 kWh of usable energy that can be scaled up to 32 kWh, with the double power of 14 kW. (Available December 2020)
LG RESU10H Prime. An ideal option for a first home battery, RESU10H Prime features enough capacity to back up critical loads during peak hours and emergencies, offering 9.6 kWh of usable energy which can be scaled up to 19.2 kWh, with the double power of 10 kW. (Available March 2021)
“The LG RESU Prime family is designed to meet the needs of today’s consumers, who now rely on home energy solutions to power both their lives and careers. The shift to a work-from-home culture has highlighted increased demand for reliable energy solutions, driven by the uncertainty created from increased blackouts and the inefficiencies of aged grid systems. The LG RESU Prime offers consumers a sense of self-reliance, in an intuitive format they can scale to meet their needs” said Linh Tran, Sales Director of Residential Business from LG Energy Solution. “We are also working closely with the world’s leading inverter manufacturers to allow installation with both newly applied and existing solar systems: Single-phase or three-phase, commercial and residential, with very robust back-up capability.”
For more flexibility: Along with the LG RESU Prime lineup, LG Energy Solution unveiled the concept design of LG RESU FLEX, a totally brand-new concept for a home battery. LG said the RESU FLEX can create a battery system with a desired capacity and design by configuring battery units in various ways. Characterized by ease of installation and scalability, the product is expected to be released in the second half of 2021.
— Solar Builder magazine