Panasonic has signed a strategic alliance with US-based Power-One to develop, produce and market energy storage systems on a global level.
The two companies will develop products combining Power-One inverters with Panasonic lithium-ion batteries and systems, for the residential and non-residential markets worldwide.
The partners intend to initially focus on developing the residential, commercial and utility-scale, grid-connected, energy storage systems business in Europe and the US, and the non-residential segment in Japan.
In addition, they have committed to develop the large-scale commercial and utility photovoltaic inverter business in Japan.
Power-One Renewable Energy Solutions president Dr. Alex Levran remarked about the strategic alliance with Panasonic.
"Energy storage resources will greatly increase the adoption, use and sustainability of renewable energy systems throughout the world in homes, businesses, and in large utility plants," Levran added.
"Panasonic’s strengths lie in the development, production and sale of products like their home energy management systems (HEMS) and lithium-ion battery cells, which are vital for power storage systems.
"Combining Panasonic’s expertise in battery and battery storage with our advanced inverter technology should prove to be an unbeatable combination."