Powervault claims that using former electric vehicle batteries in this way could recede the cost to consumers of a Powervault ‘smart battery’ by 30%. This will help the company on its mission to reach the tipping point of home energy storage ownership in the UK, as the second life packs will start at around £3000; down from around £4300.
An initial production run of 50 units made from repurposed Renault electric vehicle batteries will be made, and supplied to selected homes fitted with solar panels who are customers of M&S Energy, as well as Greenwich schools and some social housing residences. Renault and Powervault aim to gauge the repurposed batteries’ performance compared with conventionally-sourced ones, as well as attain customer feedback.
Customers with solar panels are being selected, as the packs allow them to store energy collected from the panels, as well as charging at off-peak grid times, allowing the cheaper energy to be used later, when the cost may be higher to use electricity straight from the grid.