A large-scale battery storage facility providing ancillary services to the grid has gone into commercial operation at the site of a hydroelectric power plant in the Philippines.
UK energy storage fund manager Harmony Energy has said revenues in 2023 were significantly lower than 2022, postponing its dividend, after peer Gresham House said the same thing earlier in the week.
Optimising co-located BESS is “much more complicated” than standalone and few companies can do it well, panellists on Day 2 of Solar Finance & Investment Europe (SFIE) said.
The European Commission is targeting 90% renewable electricity by 2040 in the EU and sees energy storage as one of several key areas of investment to get there, according to a leaked draft.
The UK battery storage market is suffering a “weak revenue environment”, with assets not able to participate in balancing the GB grid or replacing gas-fired generation to their fullest capability, according to Gresham House Energy Storage Fund.
Independent power producer Low Carbon has signed optimisation agreements with Habitat Energy, Flexitricity, and EDF across four battery energy storage systems (BESS) with a capacity of 95MW.
Sunrun has published the results of its Peak Power Rewards system, which saw residential solar systems deployed amongst its customers provide an average of 27MW of power to the California electric grid for 90 consecutive days.
The amount invested in energy storage soared globally during 2023, while battery manufacturing will require the biggest share of spending among clean energy technologies by 2030 to achieve net zero.
The energy regulator in France has ordered a reopening of a postponed auction for secondary reserve/aFRR services, citing an increase in the number of BESS certified to provide it.
