Solar D Corporation, the distributor of the Tesla Powerwall energy storage system, is seeking business partners to increase sales of home-use energy storage as the market value of solar power technology in Thailand is rising.
The first firm in Asia certified by US-based Tesla Inc as a battery installer, Solar D recently introduced the product during the 34th Architect Expo.
Sumrit Sitthiwaranuwong, managing director of Solar D, said the company is in talks with three local property developers to form partnerships, but declined to elaborate.
The company expects sales of energy storage equipment to make up 30% of its total revenue this year. Usually most of the earnings come from rooftop solar panel installations.
The battery, based on AC coupled technology, is designed to have a capacity of 13.5 kilowatt-hours and is controlled through a mobile phone application.
The stationary energy storage system serves as a back-up power source for electricity produced by such intermittent renewable energy sources as the sun.
Solar D expects to have more purchase orders for rooftop solar panels this year, with combined capacity increasing to 30 megawatts, 50% growth from 20MW in 2021.
Mr Sumrit believes revenue will grow by 80% to 600 million baht this year.
"Though our prices are higher than those offered by other companies in the market, the battery quality and a long-time warranty programme will make the purchase worth it," he said.
The company already installed the battery at 50 houses during its pre-market period. New business partners should help increase the numbers to 1,000 houses per year, said Mr Sumrit.
Low-rise buildings will be the main target for the company, he said.
Solar D expects the value of the local solar power market to rise to 50 billion baht within a decade.
Solar energy is a renewable energy promoted by the government, which wants to reduce dependence on fossil fuels and step up efforts to reduce carbon dioxide emissions, which are blamed for causing global warming.