• A technician works at a research lab of BYD Co. in Shenzhen, south China's Guangdong Province.

A technician works at a research lab of BYD Co. in Shenzhen, south China's Guangdong Province. (Photo : Getty Images)

BYD, China's electric vehicle and battery storage giant, has unveiled a new product line of modular battery storage systems. This will target both businesses and households in what it says is one of the world's most attractive markets.

BYD stands for "Build Your Dreams," and is the world's largest provider of integrated renewable energy solutions. It claims that it is the only company which specializes in four comprehensive industries, which includes energy storage systems, solar modules, rail transportation and electric vehicles.

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BYD claims that they are the world's biggest supplier of rechargeable batteries. It says that its New B-box battery energy storage system is scalable, and are based on lithium iron phosphate chemistry with outstanding safety features.

The low voltage residential series of BYD's new battery storage systems will be available in four capacities, ranging from 2.5kWh to 10.0 kWh and can be scaled up to 80kWh. Depending on the circumstances and voltage, high-voltage commercial models can provide up to 50 kWh to 409 kWh. providing more than enough power for energy-intensive medium-sized businesses.

The lithium iron phosphate chemistry is a crucial feature, given the likelihood of new standards which could impose restrictions on some battery chemistries.

“The B-Box series offers a wide range of renewable power capabilities to meet light to heavy electrical load lifestyle, enabling its users to reduce reliance on electricity from fossil fuels, especially when combined with BYD’s solar power systems, thus drastically cutting energy costs,” the company stated.

"We have chosen Australia to launch our expanded B-Box battery storage systems because the country is currently one of the most attractive markets for solar PV and storage deployment," the company added.

BYD announced four authorized distributors in Australia for the B-Box battery storage systems, which includes Solar Australia Pty Ltd., Sol Distribution Pty Ltd., RF Industries Pty Ltd., and 360 Energy Pty Ltd.

Other competing battery storage providers such as Enphase, LG Chem, and Tesla have also chosen Australia as the launch-pad for their product due to high electricity tariffs, lots of sunshine, as well as the expiry of premier solar feed-in tariff schemes.