LG Energy Solution Vertech is set to initiate 10 grid-scale battery energy storage (ESS) projects in the US in the coming year, emphasizing the nation’s increasing commitment to clean energy. These projects, totaling 10 gigawatt-hours (GWh), comprise integrated battery energy storage systems aimed at supporting the ongoing transition to sustainable renewable energy. The installations are projected to divert nearly 8 million pounds of coal or 16 million pounds of CO2 emissions annually, according to the Environmental Protection Agency’s Greenhouse Gas Equivalencies calculator.
LG Energy Solution Vertech, formed after LG Energy Solution acquired NEC Energy Solutions in February 2022, focuses on merging battery manufacturing and energy storage system integration. The projects secured since the acquisition exceed five times the total energy storage projects completed by NEC Energy Solutions. The company will employ advanced lithium-ion batteries manufactured by LG Energy Solution, integrated with hardware and software solutions, including the AEROS™ software suite. This software will offer on-site supervisory and control services, cloud-based access to performance analytics, and features like advanced AI and machine learning analytics for revenue optimization and digital twin capabilities.
Jaehong Park, CEO and President of LG Energy Solution Vertech, emphasized the advantages of their vertically integrated approach and highlighted the potential growth in the US energy storage industry, particularly with the recent passage of legislation like the IRA. The Q4 2023 US Energy Storage Monitor predicts a 35% increase in the 2024 grid-scale ESS market, reaching a total of 30GWh. LG Energy Solution’s commitment to the US market is further solidified by plans to construct a battery manufacturing complex in Arizona, catering to electric vehicles and energy storage systems.
