Germany is the place to make it in the energy storage world, and Ideal Power did not want to miss out. The U.S. company had endeavored to join the market, and has now received its first order for its 30kW power conversion systems (PCS).
Ideal Power recently put on a demonstration of the capabilities of its PCS for energy storage at a commercial facility in Germany. With onlookers impressed, the demonstration has facilitated a deal for a half-megawatt order of its PCS, which will now be used for a commercial energy storage project in the country.
“We are pleased to expand into Germany, which has a mature residential storage market and burgeoning demand for commercial and industrial (C&I) storage," commented Dan Brdar, CEO of Ideal Power. “The pilot commercial installation was a successful case study and shows that our products combined with distributed energy storage have value beyond the U.S. demand charge application.”
One of the selling points of Ideal Power’s PCS is that the company has been able to reduce the size and weight of the system compared to conventional offerings, which means that the installation costs are significantly lower.
The potential prize for getting a foothold in the German energy storage market is huge, as the country has one of the most developed energy storage markets, especially for residential storage. In fact, by the end of 2015 there was already 67 MW of installed energy storage in the country, and market analysts GTM Research forecast that this will grow eleven-fold up until 2021, to reach an expected annual value of over USD 1 billion.