• On National Cut Your Energy Costs Day, LG Energy Solution emphasizes how energy storage can reduce energy consumption.
• The company’s advanced ESS technology helps businesses and homes save on energy costs and improve efficiency.
• ESS market projected to triple by 2035; LG Energy Solution ready to lead way.

[National Cut Your Energy Costs Day Special]

January 10 marks National Cut Your Energy Costs Day in America and Canada, but it holds relevance globally. The day serves as a reminder to individuals and businesses to evaluate their energy consumption and explore innovative ways to reduce it. This day encourages us to consider opportunities not only to save a penny on energy but also to explore ways to conserve energy for a brighter path to a sustainable future. Originally an initiative by the Canadian Energy Efficiency Alliance, the day has had a significant impact in North America and is now recognized on a global scale.

Reflecting on the best ways to save energy, one effective solution comes to mind: adding Energy Storage Systems (ESS). Since energy is difficult to store and often lost after use, ESS makes it easy to store and manage energy more efficiently. That’s why they’re widely used in power plants, transmission and distribution facilities, homes, factories, and businesses; the technology is the perfect solution to optimize daily energy usage.

ESS technology stands out for its ability to integrate with renewable energy systems to boost energy efficiency and lower electricity costs. For instance, ESS products are often paired with residential rooftop solar panels or uninterruptible power supply (UPS) systems in data centers to store excess energy, which can be used in periods of high demand or elevated electricity prices. It also enables power plants to store and manage the renewable energy it generates intermittently from solar, wind, or hydropower, thereby improving overall energy efficiency.

When it comes to ESS, LG Energy Solution offers optimal energy solutions – from high quality cells to packs and racks – that last for long periods and combine energy efficiency with convenience.

To guarantee a uniform energy output, the company combines its proprietary lamination and stacking technology with its advanced process expertise to produce high-capacity, long-life battery cells with a stable structure. LG Energy Solution also develops slim ESS solutions for power grids and residential use by leveraging its high-capacity battery cells, minimizing installation space while maximizing spatial efficiency.

Recently, at InterBattery Europe 2024, LG Energy Solution unveiled key products to strengthen its presence in Europe and the global ESS market. These include the enblock E and the ‘New Modularized Solution’ – a grid ESS based on LFP long-cell technology.

In 2022, LG Energy Solution acquired NEC Energy Solutions (NECES), and established LG Energy Solution Vertech, the US energy storage division of LG Energy Solution. This ESS-specialized subsidiary delivers integrated, reliable, and bankable integrated ESS systems with supporting software and services, offering a streamlined market approach, simplified project processes, and dependable supply chain to provide customers with sustainable energy solutions.

In November, LG Energy Solution Vertech built on a legacy of success and signed a major ESS supply agreement with Terra-Gen, a leading renewable energy company in the U.S., valued at up to 8 GWh – the company’s most significant achievement to date. The energy supplied under this agreement can power over 800,000 family-of-four households for a full day, with deliveries scheduled between 2026 and 2029. Since then, LG Energy Solution Vertech has announced an additional 7.5 GWh agreement with Excelsior Energy.

According to market research firm SNE Research, the global ESS market is projected to grow more than threefold by 2035, from 185 GWh (2023) to 618 GWh. The North American market follows a similar pattern of significant growth, with experts anticipating it to grow from 55 GWh in 2023 to 181 GWh by 2035. In light of this and an increasing demand for reliable and efficient ESS products, LG Energy Solution plans to extend its focus beyond battery supply to integrated ESS solutions, further strengthening its leadership in the global ESS market by reinforcing the business capabilities of LG Energy Solution Vertech.

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