The move will see the cost of a lithium battery-based Powervault home storage unit drop by 30 per cent to around £3,000 fully installed, which it says will help bring energy storage to the "tipping point" of mass market rollout.
Under the partnership, Renault will supply Powervault with second-life batteries from the auto giant's range of electric vehicles. Powervault's business plan sees it selling 30,000 units by 2020, which equates to 15,000 EV vehicle batteries.
A United Kingdom trial is about to begin, from July, where 50 M&S Energy using homes already equipped with solar panels will get the Powervault system installed with a repurposed Renault vehicle battery. The trial will be a mix of M&S Energy customers, social housing tenants and schools in the South East, Powervault said.
For Renault, the move follows in the footsteps of fellow carmarkers BMW and Nissan, which have both in recent months announced "second-life" storage schemes in partnership with energy storage companies.
Joe Warren, managing director at Powervault, said the collaboration between his company, Renault and M&S was an "important milestone" towards storage achieving mainstream adoption. Second life battery packs are removed from the electric vehicles, unpacked and graded before Powervault make them into smaller battery packs for their application. The trials will incorporate second-life EV batteries provided by the carmaker to reduce the cost of the unit by 30%.
This is not a new idea - Tesla and Mercedes (albeit they use new batteries) have their own home and business energy storage solutions, with the Americans arguably being the more renowned in this case.
Apple store is down, new iPad Pro announcement likely to blame
UPDATE AGAIN: Apple suggests this device will be available to purchase in December starting at $5,000 United States dollars . The entry-level 21.5-inch iMac now has Intel Iris Plus graphics, which work 80 per cent faster than the previous generation.
They will then be able to use the solar energy they collect and also charge the battery from the grid at off peak times.
Do you think it's a good idea to use old EV batteries in the home?
The firm previously raised just shy of £1.5 million through a CrowdCube listing which originally started in 2015.
We're talking the means to self-powering smart phones, laptops, cars and buildings.
The new CrowdCube campaign will have an initial target of £750,000.