Energy storage manufacturing is the fastest growing business unit for tool maker Manz, the company has told PV Tech Storage.
The company has seen its solar segment shrink to less than 5% of its annual revenue. In its recent quarterly results Manz said it would look to focus on other part of its business, including energy storage.
In an emailed statement to PV Tech Storage, Manz gave more detail on the extent of its progress in the energy storage industry.
“We have already been able to book new and follow-on orders in the Energy Storage segment with a total volume of around €100 million (US$109 million) this fiscal year,” said Manz spokesman Axel Bartmann. “This makes Energy Storage our fastest growing business unit with the best growth perspectives in the midterm.
“Currently, most of the orders are placed by customers in the consumer electronics industry. But we also see an increasing customer activity in the e-mobility sector and in stationary power storage, for renewable energy for example,” added Bartmann.
Orders placed with Manz and other tool makers confirm the imminent increase in manufacturing capacity, and ultimately a route to reductions in price.
Manz expects prices to pass a critical threshold "very soon".
“The development of storage and solar are closely linked together. Lithium-ion batteries are still too expensive to be used on a large scale…but this will change very soon. It is just a question of technology and of scaling production capacity to further significantly cut production costs of storage systems. The positive effects on PV are easy to imagine,” said Bartmann.