This photo provided by LG Electronics Inc. shows an energy storage system (ESS) at the tech giant’s home appliances factory, LG Smart Park, in Changwon, 400 kilometers south of Seoul.
SEOUL, Dec. 28 (Korea Bizwire) — LG Electronics Inc. on Tuesday held a completion ceremony for a peak shaving energy storage system (ESS) at its home appliances factory LG Smart Park in Changwon, South Gyeongsang Province.
The system is designed to contribute to lowering the burden of electricity charges as well as to reducing greenhouse gases.
It stores cheap off-peak electricity late in the evening to use power during peak hours to cut down electricity costs.
The company expects the newly-established ESS to contribute to saving electricity costs by about 77.4 billion won (US$61 million) over the next 15 years.
The peak shaving ESS that will be operated by state-utility firm Korea East-West Power Co. is a large facility with a battery capacity of 163 megawatt-hours (MWh) and a power conversion system capacity of 44 megawatt (MW).
The new system can replace 15 percent of the average daily power consumption at a smart factory. The ESS contains LG Electronics’ Power Conditioning System (PCS) and Power Management System (PMS) as well as batteries from LG Energy Solution Ltd.
Lina Jang (linajang@koreabizwire.com)
