Generac Looks Ahead With Solar Plus Storage SolutionBy Cas Biekmann | Mon, 09/07/2020 - 09:28
Generac, a global giant in the business of generators, both for backup or as a main energy source, has diversified its businesses with a new home solar-storage system, reported GreenTech Media (GTM). In an interview with MBN, the company’s Vice President of Operations for LATAM, Bulmaro Rojas, sheds light on Generac’s plans for the Mexican market.
The market for home solar-storage systems is not without fierce competition: Companies such as Tesla and Sunrun already tout significant market shares in the US, where the product line has been launched first. Generac’s approach sets itself apart from the competition by providing more power to its storage through a PWRCell battery and inverter, as well as added technology to make operation off the grid more viable. These developments make it possible to run the entire house on solar energy, rather than having a few appliances powered by it once the sun goes down. This extra capacity comes with an added cost but GTM reports that analysts are already seeing Generac being able to lower its prices close to its competition.
GTM reports that Generac’s batteries have quite a lot more capacity than its competitors: around 8KW with a single battery or up to 11KW if a second battery is installed. By comparison, Sunrun and Telsa offer 5KW of storage, whereas LG Chem offers 3.5 KW.
While the system primarily targets the US residential sector, Bulmaro Rojas sees potential in Mexico’s commercial segment. “In Mexico, we are experimenting with this new model, revising and adapting the product to the local market. In 2021, these solutions will be available for the Mexican market while targeting those that are on CFE’s High Consumption Rate (DAC) for residential segments, as well as for commercial areas, such as convenience stores. These types of businesses can benefit from energy savings and enhanced energy security with storage,” Rojas told MBN.
The company has big plans globally but for Mexico, in particular. “We have seen our share value grow 50 percent over the past few months, reaching US$180 per share. The entire company is focused on providing energy solutions. We will not branch out to other segments but remain in the area and foster our expertise. We are dedicated to growing our solutions portfolio. Another objective is to invest in our infrastructure and in our employees as well,” said Rojas. “We are investing this much capital in these trying times because we have faith in the Mexican market. We know that we will make a return on this investment and that the current situation is merely temporary. We believe that Mexico’s precarious energy infrastructure and electrical grid need our solutions to continue running efficiently.”