Q CELLS places US solar-storage market in its crosshairs with Geli acquisition – PV-Tech

Geli's system helps design and size systems appropriately and decide on revenue stacks. Image: Geli.

Geli’s system helps design and size systems appropriately and decide on revenue stacks. Image: Geli.

Q CELLS has signalled its intent to target the US solar and storage market by acquiring San Francisco-based storage solutions provider Growing Energy Labs Inc (Geli).

Q CELLS said it expected the acquisition to help mark its entrance into the US distributed energy market having already launched solutions in both Europe and Australia.

Geli’s offering comprises an end-to-end software platform that professes to streamline the process of designing, selling and managing energy storage assets. It uses a suite of artificial intelligence-led tools to determine the optimal size of energy storage systems and ideal revenue stacks for customers to target.

Q CELLS said that by leveraging Geli’s proprietary technology it would be able to provide more in-depth packages of solar and storage installs that comprise both hardware and software solutions.

Hee Cheul Kim, CEO at Q CELLS, said there is increasing demand for more comprehensive energy solutions, specifically in the energy storage space.

“We are excited to welcome the Geli team and work together to strengthen our competitiveness in the global distributed energy market. Q CELLS and Geli’s combined capabilities will allow us to provide smart energy solutions to our customers, and together we can unfold the next chapter towards a cleaner tomorrow,” he said.

Earlier this year Q CELLS launched its Q.HOME Cloud solution, which combines home solar and energy storage solutions with a cloud-based component used to ensure homes are provided with a “100% sustainable power supply”. The solar and storage elements provide the bulk of a home’s power, while the cloud solution is used to connect homes to other renewable sources during any shortfall periods.

The service is currently available in Germany and Austria, however it is expected to be expanded into other markets.

Tags: q cells, solar-storage, distributed energy, investment, geli, us, revenue stacking

Source: https://www.pv-tech.org/news/q-cells-places-us-solar-storage-market-in-its-crosshairs-with-geli-acquisit

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