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By Faith Ashmore, Benzinga
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Between increasing climate change-related natural disasters, a desire to go green, and higher electric bills, there are a growing number of homeowners interested in solar battery systems. The vast majority of residential batteries are energy storage units designed to keep electrical devices running during power cuts or electricity shortages. Companies like Generac (NYSE: GNRC) and Tesla’s (NASDAQ: TSLA) with its Powerwall provide these services.
The demand is clear. In 2021, the residential battery market size was valued at $12 billion. By 2028, the market is expected to rise to over $49 billion with a compound annual growth rate of 17.75%. Part of the driving force toward independent electricity is the unreliability of the main electrical grid.
The electrical grid is highly susceptible to storms and communities are at the mercy of the electrical company. To make matters worse, electricity bills have risen dramatically. In the past year, electricity prices have increased by 15.8%. To put it in perspective, reports estimate that the monthly average for a family to cool their home in the summer went from $450 to $600.
The current suppliers of residential batteries are limited although given the demand the market is getting increasingly crowded. The majority of battery systems on the market were designed as backup solutions that “jump-in” when the electricity goes down, and the transition to backup power can sometimes take several seconds, leading to appliances stopping, desktop computers rebooting, and clocks resetting. Some of these systems only have the capacity for “essential loads” like your fridge and kitchen appliances but leave the majority of the house underserved.
Californian startup YouSolar is redefining the industry with its PowerBloc®. The PowerBloc is the first primary power solution for residential homes and provides an uninterrupted power supply for the entire home.
What Makes The PowerBloc Unique?
YouSolar’s PowerBloc is a fully-integrated solar nanogrid that includes advanced solar panel electronics. The PowerBloc acts as an Uninterrupted Power Supply for the entire home, and contains an energy management system that uses solar and load forecasts to decide how to optimize the batteries.
One of the more unique characteristics of the PowerBloc is its modular design. This means the system is flexible and can be upgraded if needed or desired.
YouSolar is already seeing success in the California wine country and along the Big Sur coast. The company’s primary customers are affluent, self-reliant homeowners who live off-grid, want a reliable and clean power supply, and are willing to pay for it. YouSolar recently sold their largest system to date at $180,000.
While YouSolar is currently targeting the luxury home market, particularly in more remote areas, as the company expands they hope to target global emerging markets with their next-generation stackable, plug-and-play design. YouSolar has the technological capabilities to become a name brand in the residential battery market.
Click here to read more about YouSolar’s raise and to invest.
This article was originally published on Benzinga here.
YouSolar created the PowerBloc®, a solar nanogrid that delivers reliable and clean power with little or no reliance on utility power. Our first customers are high-end homes in Northern California. The PowerBloc uses a patented modular and highly scalable power architecture. To accelerate sales and take the PowerBloc global, we are developing a stackable PowerBloc that is plug-and-play. The PowerBloc allows people to power their lives independently and accelerates the transition to a clean-energy world.
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