California-based Lunar Energy Inc. has launched its home power storage system in an effort to compete with Tesla's residential battery market dominance. In partnership with Sunrun, one of the largest residential solar installers in the US, Lunar Energy has developed an all-in-one residential solar generation and storage solution called the Lunar System. The system includes battery modules capable of providing 10 to 30 kWh of backup power. Lunar Energy's CEO, Kunal Girotra, stated that "there are 75 million homes in the country and only 4 million have solar, and a quarter million of those have home batteries." The demand for battery storage is growing rapidly as extreme weather conditions continue to drive up power consumption and grids become overwhelmed.
The Lunar System is designed to smooth out solar power supply, providing homeowners with uninterrupted power supply during the night or when the sun is not shining, thus easing grid stress. Lunar Energy is taking reservations for their system, with Sunrun as their exclusive installer. Sunrun holds a 37% stake in Lunar Energy and will have preferential access to Lunar's technology. Installations will begin in California in the autumn before expanding to other parts of the country.
Sunrun's CEO, Mary Powell, believes that the company's partnership with Lunar Energy can create a more affordable and resilient grid for all Americans. Currently, only a quarter of a million homes in the US with solar energy also have home batteries. With less than 20% of US homes with sufficient rooftop space suitable for solar panels, the potential market for such battery-energy-storage solutions is significant. Lunar Energy's entry into the market will provide greater competition in the residential solar and battery-storage industries, potentially reducing costs and making the technology more viable for more consumers.