LS

■ LS ELECTRIC targets local market with LS Modular Scalable String Platform
■ First Korean company to receive UL-1741-SA17 and California Rule 21 certifications for ESS business
■ Expanding global business with the US, the world's largest ESS market showing rapid growth.

LS ELECTRIC has started to expand its energy storage system (ESS) business in North America, the world's largest ESS market. Accounting for more than 50% of the global ESS business, the North American market is a core market that has shown rapid growth especially since the inauguration of the Biden administration.

On July 14, LS ELECTRIC unveiled LS Modular Scalable String Platform, an ESS solution tailored to North American customers, and revealed its strategy of expanding its ESS business. 

Catering to North American customers’ preference for medium and large capacity with the world's best LS ELECTRIC PCS (Power Conditioning System) design technology, the company developed the LS Modular Scalable String Platform as 180kVA, 600Vac class. 

This new product features modularized PEBB (Power Electronics Building Block), a key component for ESS power conversion, into capacity units to enable smart and independent operation and easy capacity expansion to a maximum 3MW as a customer option.

LS ELECTRIC was the first Korean company to acquire both UL-1741-SA17 and California Rule 21 certificates, which are essential standards for entering the North American power system business. In particular, California Rule 21 is a certification that is a must for any power equipment company to enter the state of California, dubbed the new and renewable energy paradise, apart from the UL (Underwriters Laboratories) certification.

LS ELECTRIC's strategy is to accelerate the expansion of the company’s global ESS business, centered on the US market, with the world's highest level of product reliability, technology, and power plant implementation capabilities proven by domestic and overseas ESS installation and operation records of about 1GW (PCS basis).

While the global ESS market is expected to grow to 164GWh by 2030, the size of the United States ESS market is forecast to grow from 1.8 trillion won this year to 8.8 trillion won with total capacity of 55.3GWh by 2025, thanks to the Biden administration's policy of expanding new and renewable energy. 

“The trend of energy conversion for carbon reduction has continued, and the ESS business is expected to show rapid growth, led by the United States, after the inauguration of the Biden administration. With the US market as bridgehead, we plan to accelerate our entry into the global ESS market,” an LS ELECTRIC representative said.