Panasonic Corp eyeing on international solar power-based storage market to tick up...

Panasonic Corp eyeing on international solar power-based storage market to tick up in cheap energy sector

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Being cheaper and guarantees the cost savings, the solar power-equipped storage batteries are now the main focus of the big companies so as to grab a greater share in market in this domain. Following Tesla Motors Inc’s (NASDAQ:TSLA) push into this rich money-making area in May now the Japanese firm, Panasonic Corp, has announced that it will soon be shipping solar-storage batteries to Germany and later on carry on its voyage to other countries. Germany marks an important country for power-storage companies.

Panasonic’s foray into international market will bring itself in direct competition with the giant Tesla which has announced a suite of batteries for the utilities, homes and offices in May. Tesla’s Chief Executive Officer, Elon Musk, has already said that Germany is an important market for this product because the country’s advanced consumer solar power market.

Panasonic will expand its energy-storage products to France, the U.K. and other markets, Laurent Abadie, chief executive officer of Panasonic Europe, said in an interview at the IFA electronics show in Berlin Wednesday. Yet the firm hasn’t given any timeline for the selling of batteries in Europe.

Panasonic is already selling batteries in its home market Japan, where 70 percent of the energy usage in homes is attributed by the electricity generated from solar panels, Abadie said. He further said that the firm aims to replace the grid-based electricity to solar power-based electricity.

“We are not far from achieving 100 percent in the future,” he said. The time it’ll take to reach that goal “depends on the region. If you are in the Nordics, you need a lot of energy in the winter, you don’t get any light.”

At IFA event, Panasonic said that it will start the reservation for the Nubo, a security camera that connects through mobile networks, allowing users to monitor places without Wi-Fi, this month. Europe’s solar energy market will start rebounding by 2017 on an account of the users increased dependence on the cheaper solar power-based electricity.

Panasonic estimates that solar power-based electricity industry could generate 10 billion yen ($83 million) in revenue outside of its domestic Japanese market by fiscal year 2018. In October the firm will start selling solar power-based batteries to Australia.

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I handle much of news coverage for tech stocks, and occasionally cover companies in different sectors. In the past, I've written for other financial sites and published independent investment research, primarily on tech companies. I have a B.A. in Economics from Columbia University. I'm based out of San Diego, but grew up in Southern New Jersey. I play basketball and tennis in my spare time, am a long-time (and long-suffering) fan of Philadelphia's sports teams, and alternate daily between using an iPad Air, a Galaxy Note 3, and one or two Windows PCs.

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