A new trial has been initiated in the U.K., which intends to calculate the feasibility of using Recycled EV Batteries for solar energy storage in the residential sector.
Powervault Renault Agreement Kicks Off Trial
Powervault, the home energy storage solutions company from London, has recently reached an agreement with automotive giant Renault to recycle and reuse their EV batteries. The batteries will be used in the homes of Powervault customers who already possess solar energy installations. The recycled batteries will be used across 50 trail units. According to the energy storage company, the trial is expected to be run solely with the customers and housing tenants associated with M&S Energy.
Success Could Allow Users to Save More on Energy
Program director for the trial, Nicolas Schottey, stated that the new home energy storage partnership between Powervault and Renault can help both companies add a new element into their global strategies for reusing batteries. The recycled EV batteries can help cover a large number of utilities within the residential sector and could also find possibilities in the industrial sector. The second life batteries can therefore provide a twofold advantage: they can help save on the costs of manufacturing new batteries, and allow consumers to save even more money buying cheaper batteries and storing solar energy.
The Recycled EV Batteries, according to Powervault spokespersons, are expected to come with a lifespan of as much as 10 years, which comes after the usual 10 year lifetime of the original battery. The potential 20 year lifespan drawn out of a single EV battery can help create massive savings over time.