Q CELLS places US solar-storage market in its crosshairs with Geli acquisition

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
Geli's system helps design and size systems appropriately and decide on revenue stacks. Image: Geli.

Q CELLS has signalled its intent to target the US solar and storage market by acquiring San Francisco-based storage solutions provider Growing Energy Labs Inc (Geli).

Q CELLS said it expected the acquisition to help mark its entrance into the US distributed energy market having already launched solutions in both Europe and Australia.

Geli’s offering comprises an end-to-end software platform that professes to streamline the process of designing, selling and managing energy storage assets. It uses a suite of artificial intelligence-led tools to determine the optimal size of energy storage systems and ideal revenue stacks for customers to target.

Q CELLS said that by leveraging Geli’s proprietary technology it would be able to provide more in-depth packages of solar and storage installs that comprise both hardware and software solutions.

Hee Cheul Kim, CEO at Q CELLS, said there is increasing demand for more comprehensive energy solutions, specifically in the energy storage space.

“We are excited to welcome the Geli team and work together to strengthen our competitiveness in the global distributed energy market. Q CELLS and Geli’s combined capabilities will allow us to provide smart energy solutions to our customers, and together we can unfold the next chapter towards a cleaner tomorrow,” he said.

Earlier this year Q CELLS launched its Q.HOME Cloud solution, which combines home solar and energy storage solutions with a cloud-based component used to ensure homes are provided with a “100% sustainable power supply”. The solar and storage elements provide the bulk of a home’s power, while the cloud solution is used to connect homes to other renewable sources during any shortfall periods.

The service is currently available in Germany and Austria, however it is expected to be expanded into other markets.

Read Next

April 14, 2021
There is likely to be demand across Europe for producing hydrogen from renewable energy, but the right regulatory frameworks and legislation need to be in place for the green hydrogen industry to find success.
April 13, 2021
European solar investors are coming to terms with smaller returns, however banks, governments and grid operators could do more to help alleviate risk and ease investor concerns.
April 7, 2021
Norway’s sovereign wealth fund is eyeing potential investments in solar generation assets after making its first foray into renewables infrastructure.
April 6, 2021
LONGi Green Energy has confirmed the creation of a new business unit centred around the world’s nascent green hydrogen market.
April 1, 2021
US President Joe Biden has heaped importance on clean energy research and development, arguing it to be pivotal to boosting the country’s economic recovery within a multi-trillion-dollar infrastructure stimulus package.
March 30, 2021
South Korea-based solar module manufacturer Q CELLS has filed patent infringement complaints in both Germany and France against Astronergy.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 20, 2021
Upcoming Webinars
April 28, 2021
4:00 - 4:30 PM CET
Solar Media Events
May 11, 2021