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A sharp decline in battery prices, combined with new and growing revenue streams, means that batteries are now showing clear profitability for commercial real estate in Norway. Sunday Power is making a major push into the market and will commission its first large-scale systems during the spring.
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Sunday Power has secured capital, hired a dedicated leader for the initiative, and aims to make it simple for commercial buildings to participate in the battery market. The solution is Battery as a Service—a no-cost battery system operated and managed by Sunday Power, where the property owner receives a share of the revenue.
The first system, located at KLP Eiendom’s building at Snipetjernveien 9, has a capacity of 625 kW and 1305 kWh and will be commissioned in April. Several additional projects are under development. Alongside KLP Eiendom, ORO and Løvenskiold Eiendom are among the first customers to deploy battery systems from Sunday Power.
The ambition is to build a substantial portfolio and become a leading provider of Battery as a Service in Norway.
– Now it is possible to generate real revenue from batteries in Norway, especially when combined with solar and operated intelligently against the grid. That is the key shift, says Jørgen Sørgård Erdal, Head of Energy Storage at Sunday Power.
Erdal joins Sunday Power from his previous role as founder and CEO of battery company Evyon, where he developed battery systems before taking on this new initiative.
Many still associate batteries with storing self-produced electricity for later use. In practice, the greatest value often lies elsewhere: in flexibility, grid balancing, and participation in reserve markets.
– When operated correctly, a battery can deliver services that are valuable to the power system while creating a new revenue stream for the building it is connected to. This is where batteries become commercially interesting for commercial real estate, says Erdal.
Sunday Power estimates that a battery system can generate between NOK 1 and 1.8 million per MW annually in the coming years, depending on system design and market participation.
– The most interesting economics lie in what the battery can do for the power system. That is where batteries move from being a green investment to a business opportunity, says Erdal.
Battery revenues are not guaranteed and may be higher or lower than expected. With Battery as a Service, Sunday Power takes on the full investment cost and the associated market risk, while the property owner receives a share of the upside.
Read more about how batteries generate revenue here.
Dagens Næringsliv visited the site in Langhus, where Sunday Power is building one of its first battery projects at a KLP-owned property. The system has a capacity of 625 kW and 1305 kWh and will be commissioned in April.
Asbjørn Løken, Head of Real Estate at KLP Eiendom, commented:
– We could not build a battery system and generate value from it on our own. Instead, we lease out the space to someone who can unlock this potential, as we do not have the necessary expertise or technology.
Buildings equipped with solar and batteries are no longer just energy-efficient assets with lower electricity bills—they become active participants in the energy system.
A commercial building can produce electricity from its rooftop, use batteries to reduce peak demand, and deliver flexibility back to the market. This gives real estate a new role in the energy system and unlocks additional value from existing assets and infrastructure.
– We believe commercial real estate can take on a completely new role in the energy system. Buildings can produce, store, and deliver flexibility—and generate revenue from it. For many property owners, this makes both solar and batteries significantly more attractive, says Jonas Ibsen Brynildsrud, CEO of Sunday Power.
The market remains complex. A battery does not create value simply by being installed. To succeed, it must be properly sized, integrated with the building’s energy system, connected to the right markets, and actively operated.
– Creating value from batteries is far more complex than solar alone. You need to understand the building, the solar system, the markets, the control systems, and operations—and make it all work together. That is when a battery becomes a profitable asset for the customer, says Erdal.
Sunday Power delivers both turnkey systems and battery solutions as a service. In both cases, Sunday Power manages operations and optimization. With Battery as a Service, Sunday Power finances the system and assumes all risk. If the customer chooses ownership, they take on both cost and risk—but retain the full upside.
The goal is to make it easy for customers to participate in a rapidly developing market without needing to build this expertise themselves.
Sunday Power sees growing profitability in batteries due to falling battery costs and increasing demand for flexibility in the power system. More intermittent energy and greater volatility make batteries increasingly relevant.
– Achieving profitability in batteries is complex, which is exactly why we offer a complete solution that simplifies it for the customer. We aim to become the leading Battery as a Service provider, just as we are for Solar as a Service in Norway. Our goal is to make batteries a real and profitable part of the energy strategy for commercial real estate, says Brynildsrud.
Interested in whether batteries could be a good fit for your building? Get in touch for a non-binding conversation.
