SPI Energy’s Solar4America Launches New Commercial and Industrial Outdoor Energy Storage Cabinet
SPI Energy has announced the launch of an 80kWh outdoor energy storage cabinet by its subsidiary, Solar4America. The unit boasts a standard configuration of 30kW/80kWh with high efficiency and modular design, suitable for the growing commercial and industrial market. The segment is projected to reach 3.3 gigawatts by 2023, indicating significant growth potential. SPI aims to capitalize on this demand for backup power and resiliency solutions, with the launch marking a key milestone in their strategy.
- Launch of 80kWh outdoor energy storage cabinet enhances product offerings.
- Targeting the rapidly growing commercial and industrial market for energy storage.
- Market forecast indicates substantial growth, reaching 3.3 gigawatts by 2023.
- None.
SANTA CLARA, CA / ACCESSWIRE / May 13, 2021 / SPI Energy Co., Ltd. ("SPI Energy" or the "Company") (NASDAQ:SPI), a global renewable energy company and provider of solar storage and electric vehicle (EV) solutions for business, residential, government, logistics and utility customers and investors, today announced Solar4America, a subsidiary of the Company's SolarJuice Co., Ltd. ("SolarJuice") and one of the leading solar and roofing installers in the US, launched a new 80kwh commercial and industrial outdoor energy storage cabinet.
With a standard configuration of 30kw/80kwh, the Solar4America outdoor energy storage features high charge/discharge efficiency, advanced thermal management system, LiFePO4 battery compatible with reliability and energy density in a modular design optimized for quick delivery and flexible installation. The small-footprint energy storage device is easy to maintain and can be expanded to a megawatt-level system.
"The commercial and industrial market represents an enormous opportunity for SPI," commented Xiaofeng Peng, Chairman and CEO of SPI Energy. "The launch of our new outdoor energy storage cabinet is another major milestone for us as we seek to capitalize on the rapidly growing opportunity in this very attractive segment of the solar market."
Demand for solar and energy storage to provide backup power and resiliency in the event of
a grid outage is growing in the commercial and industrial markets, according to Solar Power World. A report by Green Tech Media and the Energy Storage Association forecasts the US commercial and industrial market to reach 3.3 gigawatts of new annual capacity by 2023, up 15-fold from 2018.
About SPI Energy
SPI Energy Co., Ltd. (SPI) is a global renewable energy company and provider of solar storage and electric vehicle (EV) solutions for business, residential, government, logistics and utility customers and investors. The Company provides a full spectrum of EPC services to third-party project developers, as well as develops, owns and operates solar projects that sell electricity to the grid in multiple countries, including the U.S., the U.K., Greece, Japan and Italy. The Company has its US headquarters in Santa Clara, California and maintains global operations in Asia, Europe, North America and Australia. SPI is also targeting strategic investment opportunities in green industries such as battery storage and charging stations, leveraging the Company's expertise and growing base of cash flow from solar projects and funding development of projects in agriculture and other markets with significant growth potential.
About SolarJuice
SolarJuice Co., Ltd. ("SolarJuice") is the leader in renewable energy system solutions for residential and small commercial markets. Established in 2009, the Company is headquartered in Sydney, Australia and delivers a one-stop global solution for solar panels, inverters, and battery systems. Since inception, the Company has served over 3,000 B2B accounts and 400 customers. SolarJuice also plans to grow its supply chain, enhance its technology platform and looks to expand its product delivery throughout the Asia Pacific Region and the North America markets. With the recent acquisition of Solar4America, one of the leading solar and roofing installers in the United States, this will allow the Company to serve more customers in the growing California, Nevada, Texas, Florida, and Colorado markets. With more than a million solar systems and roofs under its belt, the Pleasanton, CA-based company now employs hundreds of installers and operates in five states: California, Florida, Nevada, Colorado and Texas.
Forward-Looking Statements
This press release contains forward-looking statements, as that term is defined in the Private Litigation Reform Act of 1995, that involve significant risks and uncertainties. Forward-looking statements can be identified through the use of words such as may," "might," "will," "intend," "should," "could," "can," "would," "continue," "expect," "believe," "anticipate," "estimate," "predict," "outlook," "potential," "plan," "seek," and similar expressions and variations or the negatives of these terms or other comparable terminology. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect the Company's current expectations and speak only as of the date of this release. Actual results may differ materially from the Company's current expectations depending upon a number of factors. These factors include, among others, the coronavirus (COVID-19) and the effects of the outbreak and actions taken in connection therewith, adverse changes in general economic and market conditions, competitive factors including but not limited to pricing pressures and new product introductions, uncertainty of customer acceptance of new product offerings and market changes, risks associated with managing the growth of the business, and those other risks and uncertainties that are described in the "Risk Factors" section of the Company's annual report filed on Form 20-F filed with the Securities and Exchange Commission. Except as required by law, the Company does not undertake any responsibility to revise or update any forward-looking statements.
SPI Energy Co., Ltd. Contact:
IR Department
ir@spigroups.com
Dave Gentry
RedChipCompanies, Inc.
Phone:(407) 491-4498
dave@redchip.com
SOURCE: SPI Energy Co., Ltd.
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