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Hanwha SolarOne Invests $8M in Silent Power

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PV manufacturer Hanwha SolarOne today announced a strategic partnership with Silent Power, an energy storage systems company.

The Hanwha Group, Korea’s top-10 business group, led Silent Power’s Series B funding round with an $8 million investment. The investment strengthens the Hanwha Solar network, enhancing the Hanwha Group’s solar offerings, the company says.

The strategic partnership will feature a co-marketing strategy for bundling Hanwha SolarOne’s PV panels with Silent Power’s distributed energy storage device, the OnDemand Energy Appliance, to offer a complete solar power and energy storage system for the residential, commercial and industrial markets. The first bundled product offering will be ready by September 2012.

The ability to store energy for later use enhances the value of solar PV by stabilizing intermittent solar energy generation and reducing peak demand loads across the grid. Energy production from solar PV peaks during prime sunlight hours, typically from 9 a.m. to 3 p.m., and does not always align with the peak demand for energy. By storing excess energy produced during times of peak production, the energy can be saved for later use. The stored energy can be used locally by the owner of the system, or can be used by the local utility company to provide power to the electric grid during times of peak demand. The OnDemand Energy Appliance can also provide backup power to the owner during grid outages.

The OnDemand Energy Appliance is fully certified to Underwriters Laboratories (UL) standards for residential and commercial deployment. Plus, it’s battery agnostic in design so as to provide maximum customer choice and offers advanced control software and complete grid integration.

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