Race for Home Power Storage Pits British Startup Against Tesla
- Powervault has reduced consumer costs of batteries by 12%
- U.K. could be a ‘huge market’ for home energy storage
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A U.K. energy-storage startup is aiming to take on Tesla Inc. in the competition to outfit homes with affordable back-up battery power.
Powervault Ltd. is preparing to boost production of its lead- and lithium-ion batteries, said Managing Director Joe Warren. The London-based company is targeting sales of 50,000 units a year by 2020, up from about 1,000 this year, he said.