Car manufacturer Renault is entering the energy storage market by working with equipment suppliers Powervault and Marks & Spencers to carry out their domestic electricity storage using electric vehicle batteries. Powervault and Renault are installing 50 battery electricity storage units in M&S Energy customer households that already have solar panels, which will produce a cost saving of around 30%. Current Renault electric vehicle batteries have a typical lifetime of eight to ten years.
As part of the Powervault arrangement, batteries will be removed, assessed and repackaged with an anticipated additional lifetime of up to ten years. The pilot scheme is aimed at investigating the technical performance of the batteries as well as customer reaction to the idea. Other vehicle manufacturers are also exploring the battery storage market, notably: Tesla, Daimler/Mercedes Benz, BMW and Nissan.