• Global energy storage market is projected to grow 15-fold by 2030.
  
• The 2nd Generation HoluPower-series energy storage system is the first and only system capable of economically addressing the Multi-Dwelling Unit Residential market through EnergyShare.
  
• HHE is a uniquely positioned leader in the Hawaiian market and is now entering California and the virtually untapped market in the United States.

Borqs Technologies, Inc. (Nasdaq: BRQS), a global provider of 5G wireless, Internet of Things (IoT) solutions, and innovative clean energy, today announced its subsidiary, Holu Hou Energy (HHE), has rolled out its next generation HoluPower xP energy storage system.

See related articles: Borqs Subsidiary Signs Agreement to Provide Solar + Energy Storage Systems to Commercial and Residential Property in Hawaii, Borqs’ Solar Energy Storage Systems Subsidiary Presents at Cantor Fitzgerald Conference Started in Hawaii with over $128 million in contracts to be signed within 2022, and now coming to California

The HoluPower xP building on the leading attributes of the HoluPower series product, specifically delivers:

• A much safer lithium ion battery chemistry, having greater inherent resiliency against overtemperature and overcharging than some major brands that use less stable, more flammable and higher toxicity chemistries.
• More system power – enough power to enable homes to operate their appliances during an outage the same way they would if they had utility power.
• Greater system modularity – each system can support four strings of PV and up to four 8.2kWh battery modules. Multiple systems can be connected together in a sharing link for even greater capacity.
• Higher power for each battery module, a very important attribute for locations where battery subsidies and bonus programs exist.
• Energy control through the HHE Modular Energy Control platform.
• Integrated home load control so both renewable energy supply and load/usage can be scheduled or optimized real time with one another.
• Standard wired internet connection, with optional WiFi or cellular communications.
• Better system conversion efficiency compared to “AC Battery” systems, like those from Tesla.
• Faster installation times with an almost 50% reduction in wiring terminations.
• The industry’s only single-family Residential energy storage system economically viable for unlocking the Multi-Dwelling Unit Residential market.

Holu Hou Energy made history in the renewable energy systems market with the 2nd Generation HoluPower-series energy storage for its solar system. The product is the first system capable of economically addressing the Multi-Dwelling Unit Residential market through EnergyShare, a unique application and advantage, enabling networked systems to share excess generation behind their respective utility meters. This has been a game-changer for improving the project economics for the MDU market, including for low-income housing, rental property units and Home Owners Association managed properties. EnergyShare enables more energy to be delivered to load, and fewer batteries needing to be installed than the standard approach of unit-by-unit installation.

Holu Hou Energy continues to deliver innovative capabilities that enable customers to achieve a higher level of energy independence. HHE is a uniquely positioned leader in the Hawaiian market and is now entering California and the virtually untapped market in the United States.

According to a recent research report by BloombergNEF (BNEF), the global energy storage installations are projected to reach a cumulative 411 gigawatts (or 1,194 gigawatt-hours) by the end of 2030, 15 times the 27GW/56GWh of storage that was online at the end of 2021. The anticipated accelerated growth of the US market follows the passage of the Inflation Reduction Act in August 2022. Besides the United States, other largest power markets in the world such as the EU, China and India have all passed legislation that incentivizes energy storage deployments.

Ref. link:
https://about.bnef.com/blog/global-energy-storage-market-to-grow-15-fold-by-2030/

Source: Borqs Technologies, Inc.