Steps taken in California to enable energy storage systems to provide multiple services and to ‘stack revenues’ are “an essential starting point” for the industry, the head of California’s Energy Storage Alliance (CESA) has said.
SunEdison founder and solar financing pioneer Jigar Shah talked to Andy Colthorpe about having the ‘freedom to invest’ for the biggest impact and why, with traditional lenders still reluctant to finance energy storage, there will always be space for frontrunners who are able to properly understand the value propositions of new and innovative sustainable technologies.
VC funding for energy storage projects increased significantly, while debt and public market financing remained “steady” during 2017, Mercom Capital has found.
Stem Inc, self-described as a supplier of “artificial intelligence-powered” energy storage, which deployed a system on average every two days last year, has closed a US$80 million Series D financing round.
The addition of energy storage has made a 1MW community rooftop solar project in Massachusetts viable, after a long-term PPA was secured with a local utility.
ADS-TEC has just completed and connected a 2.5MW energy storage system in Germany, designed to smooth the variable output of wind power generation, while RES Group has just been awarded a 10MW energy storage project contract in the same country.
France-headquartered multinational utility ENGIE has followed up acquisitions in smart energy by incorporating three companies including commercial energy storage provider Green Charge into its parent brand, with the explicit aim of furthering its position in North American markets.
Africa’s largest private equity firm has led a round of financing for Off Grid Electric to fuel the microgrid provider’s expansion in the continent, with investors including an arm of General Electric (GE).
