Lunar Energy Enters Solar Battery Field

Investment Analysis Clubs Destiny Solutions Corporation
1

Canarymedia headline: Lunar Energy enters solar+battery field with $300M investment

Sub-headline: Sunrun, SK Group and others back the startup’s plan to break into a crowded market with integrated home battery systems and broader energy controls.

26 August 2022

https://www.canarymedia.com/articles/batteries/lunar-energy-…

The residential market for solar systems paired with batteries is complicated, with lots of companies competing with one another and sharing customers at the same time. All have different offerings, each with its pros and cons and available in various configurations.

As the former head of Tesla’s residential energy business, Kunal Girotra understands just how complicated that market is. As CEO and founder of newly unstealthed startup Lunar Energy, he sees room for an ?“end-to-end home battery system” to break through the clutter — and for a broader set of technologies down the road to ?“transform homes to 100 percent clean energy.”

Wednesday’s unveiling reveals significant backing for this concept. Since its quiet founding in 2020, the Mountain View, California–based startup has raised two investment rounds adding up to $300 million, led by U.S. residential solar leader Sunrun and South Korean battery giant SK Group.

2

+Just a reminder that we learned in this article that Lunar Energy bought out Moixa:

https://www.canarymedia.com/articles/batteries/lunar-energy-…

“Once the battery sends the data up to the cloud, that data is represented in a consumer’s mobile app and in the installers’ installation app, and also…aggregated with thousands of other batteries in the cloud platform,” he said. ?“And it should make smart decisions for the home” using a set of machine-learning algorithms that Moixa founder Simon Daniel, now Lunar Energy’s senior vice president of special projects, has described as a key competitive advantage compared to other companies offering similar capabilities.

Moixa’s experience managing batteries, appliances and EV chargers in the U.K. and Japan include the aforementioned 35,000-home, 3,330-megawatt-hour aggregation, one of the largest of its kind, in partnership with Itochu and utility Tokyo Electric Power Co., Girotra noted.

“The platform is scalable and transferable from one geography to the other,” he said. In fact, Moixa is operating in the U.S. today, he added, although he declined to name the customers it’s working with.