The shift towards sustainable energy solutions continues to gain momentum following regulatory approval from the Clean Energy Council for domestic power bank systems produced by Soluna, a joint venture between Lithium Australia (ASX: LIT) and DLG Energy (Shanghai) Co, to be sold in Australia.
In order to gain approval from the Clean Energy Council (CEC), clean-energy products must meet the highest international standards and be safe to install across the various conditions across Australia.
“Gaining CEC approval for all the products it markets is a great achievement for Soluna and opens the door for sales of its high-quality, flexible product range to those wishing to save on their energy bills,” said Lithium Australia Managing Director, Adrian Griffin.
“Lithium Australia’s investment in Soluna complements its other business units; together, these comprise a practical circular economy for battery products, ranging from a reduction of waste in the mining phase through more efficient battery production to battery sales via Soluna and, ultimately, the recycling of spent batteries through Envirostream Australia.
“Soluna, then, is an integral part of the circular economy, for which Lithium Australia is providing ethical and sustainable solutions.”
The initial range of products approved by the CEC include lithium-ion battery storage, a hybrid inverter and an advanced battery management system. Having secured regulatory approval, Lithium Australia have ordered additional stock in preparation for an Australia-wide rollout.
As a periphery effect of COVID-19, Australians have seen a notable rise in domestic energy usage whilst in lockdown. The trend of working-from-home has placed further pressure on power grids and telecommunication networks. It is widely expected that once COVID-19 restrictions ease, a significant portion of Australia’s white collar workforce will maintain partially working from home, further heightening the need for renewable energy solutions.
By gaining the approval, Soluna’s products are elegible for the Small-scale Renewable Energy Scheme and other government initiative programs.
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
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