Workable alternatives to utility power involving energy storage are beginning to emerge with new and innovative business models, according to an investment advisor who worked on Younicos’ recent US$50 million “land grab”.
Building control manufacturer Johnson Controls, a recent entrant to the energy storage market, has announced a US$20 billion takeover of security and fire protection firm Tyco as it looks to consolidate its offering in the smart building sector.
A joint statement on economic and social cooperation between the governments of India and France has “noted the important role of energy storage to promote renewable energies”.
French manufacturer Leclanche will supply battery storage systems to a 13MW capacity storage project with 53MWh of storage duration in Ontario to be used for voltage control and in providing reactive power support to the grid.
Almost US$700 million of corporate funding went into energy storage in 2015, including US$397 million from venture capital (VC) investment, according to the latest report from Mercom Capital.
Although Britain’s government has cut support for renewable energy severely in the past few months, controversially claiming a need to balance the transition away from fossil fuels against the cost to consumers, energy storage may face less of a challenge at the top level, according speakers at a conference in London.
Misconceptions over the true value of energy storage are developing because of a “narrow focus” on the initial costs of the technology, a report has concluded.
Flow battery manufacturer ViZn Energy Systems has won a contract to provide a 128kW/320kWh system for a US department of energy project.
News in brief: Nissan commits to longer range EV batteries from UK plant, a first in energy storage financing for Green Charge, American Vanadium plans acquisition of Gildemeister, Ceres and Honda developing solid oxide fuel cell stacks for power equipment.