May 2, 2023   SOURCE: BusinessWire

LG Energy Solution Unveils Prime+, A Residential Energy Storage System

LG Energy Solution (LGES; KRX: 373220), a leading global manufacturer of advanced lithium-ion batteries, unveiled a new residential energy storage system “Prime+” featuring flexible capacity that meets individual home backup needs of American households.

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(Graphic: Business Wire)

(Graphic: Business Wire)

Prime+ will officially launch in the U.S. in May to meet the ever-growing needs of installers and homeowners for residential energy storage systems powered by LGES batteries. Prime+ is the first residential energy storage system including an inverter that LGES will launch in the North American market under its own brand name.

The Prime+ storage solution connects two 10H or 16H Prime battery modules in parallel to offer a capacity of 19.2-32kWh, with a maximum output of 9.6kW from the inverter. The simple modular architecture of the batteries and the plug-and-play design of the inverter ensure easy installation and unparalleled compatibility with any existing PV systems.

“What makes Prime+ unique is that the installation process is faster than ever. It takes less than 10 minutes for full inverter and battery commissioning, substantially lifting the time burden for the installers,” said Ryan Simpson, Sales Director of LGES ESS Team in North America.

The full compatibility with the existing PV systems makes Prime+ ideal for any American homeowner looking for retrofit options for partial or whole home backup. Particularly, the new solution is expected to benefit California residents, as the third iteration of net energy metering (NEM 3.0) took effect in mid-April.

Prime+ is offered in two configurations – the backup solution and the arbitrage solution – so that the customers can easily choose the right one to best satisfy their needs. The backup solution includes the Prime battery, the inverter, and an auto backup device, whereas the arbitrage solution includes the Prime battery, the inverter, and a smart meter. Specifically, if the customer wants to operate Prime+ for self-consumption only, then arbitrage solution will be the right one since it is more cost-effective than the backup solution.

Prime+ comes with a 10-year warranty for the batteries, as well as for the inverter and the auto backup device, to ensure durability and complete customer satisfaction.

LGES is hosting pilot sites with installers across multiple locations in different parts of America ahead of the official launch to give them the opportunity for hands-on experience of the new cutting-edge energy storage system.

About LG Energy Solution

LG Energy Solution (KRX: 373220), a split-off from LG Chem, is a leading global manufacturer of lithium-ion batteries for electric vehicles, mobility, IT, and energy storage systems. With 30 years of experience in revolutionary battery technology and extensive research and development (R&D), the company is the top battery-related patent holder in the world with over 25,000 patents. Its robust global network, which spans North America, Europe, Asia, and Australia, includes battery manufacturing facilities established through joint ventures with major automakers such as General Motors, Stellantis N.V., Hyundai Motor Group, and Honda Motor Co., Ltd. At the forefront of green business and sustainability, LG Energy Solution aims to achieve carbon neutral operations by 2050, while embodying the value of shared growth and promoting diverse and inclusive corporate culture. To learn more about LG Energy Solution’s ideas and innovations, visit https://www.lgensol.com.

About ESS Business of LG Energy Solution

Since mass production of ESS battery cells began in 2015, LG Energy Solution has been providing total ESS solution from cell, pack/rack, enclosure to Battery Management System. The company’s ESS product line-up covers all applications in ESS industry including grid, residential and C&I. LG Energy Solution acquired NEC in 2021, and established LG Energy Solution Vertech, a system integrator company in U.S. and transformed it into a solution provider.