LG Energy Solutions said on Thursday that its U.S. subsidiary has secured 10 grid supply deals in the fast-growing U.S. energy storage system market since its inception last year. The company says the projects have a total energy storage capacity of 10 gigawatt hours.

Headquartered in Texas, LG Energy Solution Vertech provides energy storage system integration services from business solutions to installation, maintenance and repair.

The battery maker formed the joint venture after acquiring Massachusetts-based NEC Energy Solutions in February 2022.

It also plans to offer its self-developed Eros energy management system, which protects and monitors ESS operating data (batteries, equipment and operating environment) at each site where ESS is installed.

The battery maker noted that the U.S. ESS market will gradually expand, with data from the U.S. Energy Information Administration showing that renewables will account for 44 percent of the country's grid by 2050. This means that the share will more than double from 2019. According to the March 2022 report, renewable energy generation will reach 21% in 2021.

According to the Energy Information Administration and market tracker Statista, the U.S. ESS market is expected to expand from $600.9 million in 2019 to $8.26 billion in 2025.

"The fact that LG Energy Solution has been selected by a US (grid) project developer (as a supplier) proves that the company's vertical integration strategy of providing integrated solutions, including system integration, is well received." Park Jae-hong, CEO of LG Energy Solution Vertech, said in a statement.

"Financially stable companies offering integrated systems with full warranties are a big plus for the (ESS) market."

In September, LG Energy Solutions participated in RE+ 2023, the largest renewable energy event in the United States. During the event, the company shared four key business strategies: operating a large ESS battery manufacturing facility in Arizona, strengthening the battery supply chain, securing cutting-edge lithium iron phosphate battery technology, and improving system integration capabilities.

In June, the company launched Enblock(ESS for Home Use) at the European Energy Storage International Exhibition 2023 in Munich. In 2021, it supplied the largest ESS battery of 1.2 GWH to Vistra, an American power generation company. Editor/Xu Shengpeng