Electriq Power Announces New Channel Partnership to Help Solar-Only Homeowners Achieve Energy Resilience

WEST PALM BEACH, Fla., Nov. 01, 2022 (GLOBE NEWSWIRE) —  Electriq Power, Inc. (“Electriq”), a leading provider of intelligent and integrated home energy storage solutions, announces that it has entered into an agreement with one of the largest owners of solar assets in the country. The independent service provider will now offer Electriq’s industry-leading home energy storage solution, the PowerPod 2, to its existing residential solar users, as well as future customers. The turnkey solution, which can be retrofitted onto existing solar systems or newly implemented as a standalone combination, will also be installed by Electriq.

The agreement highlights Electriq’s transition to developing new channels that will expand its access to a large and existing market of solar-only homes, while also enhancing its offer portfolio by providing turnkey solutions that ensure a smooth, high-quality finished job.

Electriq’s home energy storage solution is a critical element to ensuring that homeowners achieve energy resilience. There is a common misconception that customers who have solar systems with no battery will continue to have power during a grid outage. However, a smart home energy storage system must be included with any solar installation in order for it to continue to operate in an outage. Electriq’s PowerPod 2 provides homeowners safety and security during utility outages by using stored energy. Grid weakness due to the aging transmission and distribution system further exacerbated by sudden bursts of demand has led to more frequent power outages in recent years, and these are anticipated to continue and intensify due to climate change impacts.

Electriq’s turnkey solution also gives homeowners the ability to participate in automated demand response as well as other grid services, which can offset implementation costs and improve grid reliability. Further, the solution is certified to meet the OpenADR industry standard, providing enhanced interoperability for a variety of available demand response programs. Areas with dense geographic deployments of energy storage systems can also boost the transmission and distribution benefits of these systems and create new or boost existing virtual power plants.

With financial incentives offered by the Inflation Reduction Act, and record-breaking heat waves causing widespread blackouts across the U.S. last summer, homeowners are finding clear energy security value in energy storage systems. The PowerPod 2, coupled with solar panels, not only provides backup power during extreme weather or public safety power shutoffs, but also enables smart time-of-use charging and discharging capability to protect homeowners from incurring expensive peak demand charges. Home energy storage also alleviates pressure on the grid, making it more reliable and prices more stable for the surrounding community.

“We’re thrilled to be able to expand access to home energy storage through this new channel and look forward to extending the availability of our turnkey solutions across the country,” said Frank Magnotti, CEO of Electriq Power. “This is a monumental opportunity for homeowners who want to take control of their energy, achieve resiliency, and contribute to the clean energy transition.”

The PowerPod 2 is a part of Electriq’s industry-leading family of smart home energy storage systems designed to capture and store solar power, save on electricity costs and protect against power outages. It is also backwards-compatible with architectures of most existing solar inverter companies. The high-performance model offers high power output and the flexibility of three different capacity ratings: 10 kWh, 15 kWh, and 20 kWh, to meet every homeowner’s energy storage needs.