The UK-based company has been in development for two years and has completed testing in laboratories and pilot homes. The devices use an integrated battery and control system to store free electricity generated from solar panels during the day and release it in the evening, reducing household electricity bills by up to 15%. Powervault's products are designed to be intelligent, economic, and sustainable, providing affordable energy storage systems for homes and businesses. The initial market application is for the 1 million UK solar PV owners, but the company is poised for rapid expansion as smart meters enable "smart tariffs," allowing any of the 26 million UK homes to benefit from storing electricity when it is cheap to use at expensive peak times.