Sunworks has formed a strategic supply agreement with Sharp Electronics Energy Systems and Services Group to utilize the SmartStorage system as its primary energy storage system.
“We are seeing the market move toward energy storage,” said Jim Nelson, CEO of Sunworks. “This is an opportunity to grow our business and provide our customers with a reliable, high performing, and high quality storage solution that can deliver savings. We found that Sharp offered the best solution within the energy storage market and we plan to deploy the SmartStorage system to all of our commercial projects where the economics make sense.”
The SmartStorage system is an intelligent, lithium-ion based solution that uses predictive learning to reduce peak electricity consumption during demand spikes. Sunworks will implement SmartStorage products into upcoming commercial building projects, allowing customers to benefit from peak energy and peak demand savings simultaneously.
Sunworks and Sharp expect an increase in the adoption of hybrid solar plus storage energy solutions, especially for projects that reside in areas facing peak demand rates in excess of $18/kW. With its California presence and direct access to Sharp’s zero-down financing program, Sunworks now plans to evaluate all of its commercial projects for sites that demonstrate a strong economic benefit from a solar plus storage solution.
The SmartStorage system features predictive analytics application that manages the release of energy from batteries at the precise time it’s needed to avoid demand charges. As an option for all SmartStorage system installations, Sharp offers a 10-Year Asset Management Service Agreement coupled with a 10-Year Performance Guarantee that includes routine and unscheduled maintenance. If guaranteed peak demand reductions are not met, Sharp will compensate for the deficit in promised peak demand reductions.