Concern has been raised by the industry about battery storage consistently being overlooked in the UK’s Balancing Mechanism (BM), as the sector’s average revenues plummeted in the first half of 2023.
The lithium industry needs US$116 billion of investment to achieve the 5.7x ramp-up in production needed for 2030 decarbonisation goals, and prices may remain ‘tight’ in the coming years.
An energy storage news roundup from Germany, including 10MWh-plus projects from Tesvolt and Wirsol Roof Solutions and a €5 million fundraise by second life firm Voltfang.
A large offshore wind project proposal in New Jersey, US, by Leading Light Wind includes an option to include a 253MW battery energy storage system (BESS).
Energy storage system and services firm Stem Inc grew revenues to US$93 million in the second quarter of 2023, and reduced its EBITDA loss by 15% to US$8.5 milllion.
Developer Quartux and global inverter and energy storage technology firm Sungrow have completed a 25MWh project in Mexico, one of the largest in the country.
