Panasonic enters into strategic alliance agreement with Power-One

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Panasonic Corp on Wednesday announced that it has entered into a strategic alliance agreement with Power-One Inc of the U.S. The agreement aims for the global promotion of energy management businesses, such as stationary power storagensystems. In the agreement, the two companies have agreed to jointly develop the business of non-residential and industrial large-scale power inverters in Japan.

Panasonic is developing an energy management system business that combines its high-efficiency solar panels and power inverters, power storage systems and Home Energy Management Systems (HEMS), and already has prominent results in thenJapanese residential market.

Meanwhile, Power-One is one of the largest designers and manufacturers of inverters used for solar power systems globally with operations in North America, Europe and Asia. As a leading innovator, Power-One markets best-in-class inverters for residential, commercial and utility-scale applications that provide the most design and installation flexibility of any products on the market today while delivering the highest energy harvest.

Power inverters are one of the core components of stationary power storage systems, which have been gaining a lot of attention for their ability to reduce investment required in equipment through power leveling and cutting peak power consumption in the large scale installation of renewable energy systems, as well for their use as backup power supplies in the event of earthquakes or other disasters.