+44 (0)24 7671 8970
More publications     •     Advertise with us     •     Contact us
 
Loading...
{megaLeaderboard}
{normalLeaderboard}
News Article

Sharp aims to advance adoption of behind-the-meter energy storage


Sharp Electronics Corporation's Energy Systems and Services Group (Sharp) has announced it is offering financing for commercial and industrial (C&I) solar PV systems coupled with its SmartStorage energy storage solution. The Program is dedicated to $0 down financing for solar projects integrated with Sharp's SmartStorage behind-the-meter energy storage system and is available to developers and integrators as well as end users. During its initial phase, program funding of $25 million is expected to support the deployment of more than 12 MW of hybrid systems within the next twelve months.

"Financing is a critical piece to the advancement of the energy storage industry," said Carl Mansfield general manager and founder of Sharp's Energy Systems and Services Group. "By offering this precedent-setting financing mechanism broadly to the industry and making it available to project development allies, we are able to equip developers with readily available financing for hybrid solar-storage systems."

The distributed energy storage market is still nascent, but energy storage for solar systems is expected to reach $8 billion in 2026, according to Lux Research. Sharp recognizes that financing will play a critical  role in the widespread adoption of energy storage and market expansion, similar to how the introduction of zero-down financing enabled the rapid expansion of the solar PV industry. Until now, developers have lacked access to readily available financing specifically for hybrid solar-energy storage systems.

"Sharp's innovative 10-Year Asset Management Service Agreement and Demand Reduction Performance Guarantee were key elements in establishing system bankability, which enabled us to introduce this financing program of such breadth," added Mansfield. "Together with our robust pipeline of solar plus storage projects, we expect this financing offer to accelerate the adoption of integrated SmartStorage solar hybrid solutions with the aim of lowering electricity costs for our customers without draining their budget."

The SmartStorage system is designed to work synergistically with solar as part of an integrated hybrid energy solution. The  solar component reduces  facility energy usage while the SmartStorage component reliably reduces facility peak demand usage, both resulting in savings on monthly utility bills. Reducing peak demand usage is becoming increasingly important since demand charges are the fastest growing part of many utility bills for C&I customers and can represent up to 50 percent of a company's monthly bill.




Schletter Group: 48 MWp Project in Italy
ENCAVIS Acquires Two More Solar Parks In Spain and Surpasses The Planned Expansion
Maximum profitability with KACO advanced technology for complex solar roofs
Enviromena wins contract to re-power three major solar farms ahead of the summer energy peak
New Swansea University Collaboration to Support Sustainable, Locally Manufactured Solar PV
New Swansea University Collaboration to Support Sustainable, Locally Manufactured Solar PV
Next2Sun Builds World's Largest Vertical PV Plant at Frankfurt Airport
DNV Publishes Bankability Study of Solcast Satellite Irradiance Data
Steel company SSAB switches to fossil-free energy in Italy with PV solution from Solnet
janom Investments enters the Croatian solar energy industry by investing in a 30 MW power plant project
Trina Solar Vertex S+ 505W n-type dual-glass modules enter mass production
BayWa r.e. and 3E sign partnership agreement for monitoring & analytics of global PV portfolio
Accelerating Spain's Energy Transformation: LONGi to supply Naturgy with 1 million modules in new deal
NTR announces corporate PPA with Almac Group to buy energy from Murley Wind Farm, Northern Ireland
Oxford PV sets new solar panel efficiency world record
Order Intake for the Construction of Wind Turbines in Turkey
Trilantic Europe acquires stake in AEROCOMPACT Group
Octopus Energy makes solar farm debut in Germany
Austria-based KOGA Energy, a solar EPC solutions provider, has kicked off.
Exus to acquire 625MW New Mexico solar portfolio
Capcora Accompanies SUSI Partners In Raising Senior Debt For a Polish Renewables Portfolio
Qualitas Energy acquires a 96 MW wind energy project pipeline in Germany
Nordex Group receives orders from the UK for approx. 150 MW
Trina Solar gains EPD certification from UL Solutions and EPDItaly for industry leading modules
Mandarin Oriental Hyde Park, London instals innovative solar tech to decarbonise heating
Efficiency First: The Road to Electrification
SCHLETTER Supplies Austria's Largest PV Roof System
E.ON partners with UK renewable heat innovator Naked Energy
Sonnedix signs innovative EUR500 million loan facility to finance construction of its renewable electricity pipeline in Europe and UK
Construction begins on Glennmont and Ørsted’s Borkum Riffgrund 3 offshore wind farm in Germany
ABB shores up reliable power supply at Southeast Asia’s largest floating solar plant
Sonnedix starts construction of 300MW UK solar PV portfolio

×
Search the news archive

To close this popup you can press escape or click the close icon.
Logo
×
Logo
×
Register - Step 1

You may choose to subscribe to the Solar + Power Magazine, the Solar + Power Newsletter, or both. You may also request additional information if required, before submitting your application.


Please subscribe me to:

 

You chose the industry type of "Other"

Please enter the industry that you work in:
Please enter the industry that you work in: