Ideal Power Receives Purchase Orders for Additional 3MW of Battery Converter

Published November 12th 2014 at 5:00pm
Ideal Power 
Ideal Power Inc. announced today that it has received purchase orders for 3MW of its 30kW battery converter product. The orders were received for delivery through mid-2015.

These 30kW systems will be incorporated into energy storage systems targeting demand charge reduction in California and several other states. Demand charges can be up to 50 percent of a commercial customer's total energy bill. Many of these energy storage systems are expected to be installed with PV systems.

According to analytics firm IHS, commercial grid-tied battery systems co-sited with PV are forecasted to grow from 36MW of global installations in 2014 to 643 MW by 2018 with a Cumulative Annual Growth Rate of 111%.i

Dan Brdar, Chief Executive Officer of Ideal Power, commented, "We are seeing significant traction in product orders for commercial energy storage systems, which we believe reflects the growing market demand for these products."

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