An in-depth look at South Korea’s solar market
South Korea is a forward-thinking economy situated in the Asian continent. It is also amongst the top ten electricity consumers in the world. What portion of the nation’s energy consumption is solar?
South Korea’s solar market has been performing pretty well in recent years. According to the country’s trade ministry, approximately 4.1 Gigawatts of photovoltaic systems were installed in 2020. Any solar installer or solar industry professional will agree that this is an outstanding achievement.
It is also essential to note that South Korea’s solar capacity has been on an upward trajectory since 2018.
In 2018, the nation’s solar capacity stood at 2.4 Gigawatts and 3.8 Gigawatts. Essentially, 2020 was the most successful year recorded by South Korea’s solar market. Still, the solar market is headed for a boom as the country looks to the future.
Opportunities for solar installers and professionals and in South Korea’s solar market
Are you a solar expert or solar professional pursuing success in your field? There are vast opportunities for you in South Korea’s solar market. It would be unjust if I failed to tell you that this is the best time to work in South Korea.
Investment in South Korea’s solar market will be approximately $5.1 billion in 2021; only 3.8 Gigawatts of solar plants are expected to secure funding. You could be one of the individuals working on these projects if you play your cards right.
It is also worth noting that South Korea boasts of several solar equipment producers and distributors. In addition to that, it has a healthy network of ports and logistical infrastructure. Therefore, you can easily import any equipment that may not be available locally. Solarfeeds, a leading e-commerce marketplace for solar equipment, is here for you. Feel free to visit our inquiry page and post a quote request. We will get back to you promptly because we value you.
Wholesale Solar Battery for sale!
A solar battery is a device that is charged by a connected solar system and stores energy as a backup for consuming later. Users can consume the stored electricity after sundown, during peak energy demands, or during a power outage.
Why Use Solar Power Storage?
Using a solar battery can help users to reduce the amount of electricity they would normally buy during peak hours. The battery can store the extra energy produced from solar panels during the day to avoid using electricity at a more expensive rate.
The peak time-of-use (TOU) rates can be double the price compared to off-peak rates. In such a scenario, a solar battery storage system can come in handy for using electricity without having to pay such a high price. In the case of most residential solar PV systems, a battery bank will not be necessary. It is because most systems are tied into the local utility grid, which consistently supplies electricity with few power outages. In simple words, the local utility works like the solar PV system’s battery storage system. It takes the excess electricity from a homeowner’s system when it produces more energy than consumption, and providing electricity to the home consumes more energy than the panels generate.
Not all homeowners, however, have access to a public utility or fortunate to live in an area that is free of frequent power outages. In addition, a small percentage of consumers prefer to remain off-the-grid even when a local utility grid is available. Here are a few reasons why some consumers opt for solar batteries with storage for their residential solar PV system:
- No Local Utility Grid to Connect to If users live in an area where no local utility grid is available to connect their solar system too, having off-grid solar batteries are necessary for complete power backup.
- Energy Independence: To have 100% or even partial energy independence, buying a solar battery is important. This way, users can significantly decrease their dependence on the grid for their PV system’s backup.
- Backup for Power Outages: In the areas, where power outages are frequent, using solar batteries is a great way to have a backup. The solar battery stores sufficient energy to provide electricity during outages, and again store energy when the grid is functional.
- Usage During Peak Time: Users who consume energy from their local utility grids during “peak times,” generally between 4 pm and 10 pm, pay higher rates, which are much higher than energy rates during non-peak hours. By using solar battery storage, users can avoid paying high peak-time utility rates.
- Protecting the Solar Investment: What consumers will do if the utility rates increase? A battery backup can help protect users’ upfront investment when utility rates increase to their disadvantage.
Factors to Consider While Buying Solar Energy Storage
Battery Capacity & Power Rating
The capacity of a battery is about the total amount of electricity it can store in terms of kilowatt-hours (kWh).
The power rating, on the other hand, is a battery’s electricity delivery at one time measured in kilowatts (kW).
These two elements are the two variables where most batteries are either available with high capacity and low power or with low capacity and high power. A battery with high capacity but low power can supply electricity to several key appliances in a household for a long time. A battery with low capacity but high power can supply electricity to an entire household for a short period.
Battery Life & Warranty
The life of solar batteries naturally degrades over time, and this is why it is crucial to know the expected lifespan of the solar battery before buying. A battery’s lifespan is generally measured in either the total number of full cycles or in years.
Solar Battery Options/Types
- Lead Acid Battery
- Lithium-Ion Battery
- Saltwater Battery
- Gel Battery
There are two major types of solar batteries: lithium-ion and lead-acid. Out of these two options, lithium-ion batteries are considered ideal for a solar battery storage system.
The most popular for energy storage, lithium-ion batteries have the longest lifespan. These batteries are also quite compact and light compared to other battery types. These batteries are, however, the most expensive.
Lead Acid Battery
Lead-acid batteries are the cheapest and come with the shortest lifespan and capacity. These are a good option if users want to have a battery storage system on a budget. However, these batteries prove to be costly in the long run because users need to replace them more frequently.
A saltwater battery is a wet-cell battery that uses a reaction with salt water, air, and a magnesium anode to produce electricity. Just like any other battery, it requires chemical energy to produce electrical energy, and that chemical energy needs to be replenished to keep the battery running.
A gel battery s a valve-regulated, lead-acid battery in which a predetermined quantity of an electrolyte, together with sulphuric acid is combined with silica fumes. This chemical reaction results in an immobile, gel-like mass giving these batteries their name
Why Our Wholesale Solar Battery?
Are you a solar installer and buy wholesale solar batteries? This is a great idea to expand your business, and we can help you with this process. The demand for solar batteries is increasing as many solar users these days prefer to have their own energy storage system instead of depending on the local utility grid. It means you can capitalize on this business opportunity by supplying high-quality solar batteries in a reasonable price range. Before that, however, you should be able to buy brand solar batteries at lower prices and that too, in bulk. This is where our role comes into play. SolarFeeds is becoming a multiple wholesale vendor e-commerce marketplaces where our partners, which are reputable solar battery companies, list their products at wholesale rates. You can buy the most popular wholesale solar batteries from our website, market yourself well by supplying these batteries to residential and commercial customers.
You Can Stock a Range of Wholesale Solar Batteries
It is crucial for your business that you stock a vast range of solar batteries. A good way to start is stocking the most popular brands. As we partner with many reputable solar battery brands, you can have a business liaison with some of them and buy batteries in bulk quantities at wholesale price. In this way, you can offer products in your area that consumers may not be able to find elsewhere.
You Can Sell Batteries at High-Profit Margin
Buying solar batteries in bulk and the wholesale price will give you the opportunity to set your own price considering the average price range in the local market. First, you can check in which price range your competitors are selling their products. Due to wholesale buying, you may have more scope to lower your pricing, and still earn a substantial margin of revenue than others. If you want to buy some wholesale solar batteries at low wholesale prices, then check out our website to explore products for profitable deals. You can also drop your query at [email protected]