The move will put LG in direct competition with electric car maker Tesla Motors Inc, which unveiled its own home battery packs, called Powerwalls, last year. Sunrun has been using Tesla batteries in its home storage systems in Hawaii since earlier this year, and this deal will add LG to its list of suppliers. "Tesla makes all the headlines, but LG manufactures most of the lithium ion batteries," Sunrun Executive Chairman Ed Fenster said in an interview. Home battery systems allow customers to store solar power generated during the day for use after sunset. In addition to Sunrun customers, LG Chem's batteries will be available to the entire solar industry through AEE Solar, Sunrun's solar products distribution arm.

Source: The Edge Markets October 26, 2016 12:56 UTC