UK technology start-up Powervault has launched the second-generation of its energy storage systems.

The systems will enable householders to access newly introduced smart tariffs by automatically storing energy when it is cheap for use at times of peak demand.

They will also offer an emergency power socket that operates required equipment during blackouts.

The systems have capacities between 2 kWh to 6 kWh with options for lead acid or lithium ion batteries.

Powervault said the systems are easy to install, typically taking not more than an hour and will cost between £2,500 and £5,000.

Powervault managing director Joe Warren said in a statement: "Our new products will allow customers to seize the opportunities of the smart power revolution.

"Smart tariffs plus storage will allow them to slash their power bills by buying electricity off-peak, and there will also be opportunities to benefit from helping the national grid to store and use more of the solar or wind energy that it generates."

The product launch program was also used by Powervault as a platform to raise crowdfunding through investment platform Crowdcube.

The company wants to raise £1.5m through the crowdfunding campaign with plans to sell 50,000 units by 2020 in the UK.

Powervault was incorporated in 2012 to design and manufacture the most practical and affordable solar energy storage system for the UK house market.

The company intends to help home owners reduce their electricity bills, increase their energy security and lower carbon footprint.