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LG Chem has announced its plans to expand its footprint in the Australian residential solar storage market.
The product has the highest energy density in the world, which means it is the smallest in volume compared to the amount of energy it can deliver.
Its quality has already been proven in Germany and Japan -the two markets where LG Chem has seen the most uptake of its residential storage systems to date.
Supported by its two main distributors Solar Juice and Supply Partners, the compay supplied 600 units since it launched in Australia and expects to see a five-fold increase in growth this year, supplying more than 3000 units in 2016.
According to Manager for Australian business development, Changhwan Choi, there is enough evidence to suggest that this could be a critical decade for Australia.
“We see a quiet solar revolution brewing and we strongly believe that LG Chem will be at the forefront of this transformation to help unlock the true value of solar storage and better enable the ecosystem,” Choi said.
LG Chem’s decision to expand into the Australian market is fueled by the country’s increased recognition of the importance of solar power generation and storage given the highest average solar radiation per square metre of any continent in the world. Solar energy systems will also play a critical role in tackling climate change.
A new policy paper released this month by the Clean Energy Council of Australia entails a slew of initiatives that would help increase the uptake of the battery storage in the country.