A new report co-authored by energy expert Tony Seba predicts that the combination of solar and wind energy with batteries could undercut and disrupt the existing global energy system with “the cheapest power available” over the next decade.
Wärtsilä has installed the first utility-scale battery storage project in Singapore and received an order from a customer in Southeast Asia for a further 90MW / 90MWh of battery storage.
Energy storage systems integration company LS Energy Solutions has appoined Steve Fludder, former head of NEC Corporation’s Energy Solutions division, as its new chief executive officer (CEO).
Tesla said that it more than doubled production volumes of grid-scale energy storage solution Megapack in the third quarter of 2020 as the company continues to ramp up production to “match unprecedented demand across the globe”.
The federal government of Australia has given Major Project Status to the Asian Renewable Energy Hub, which it said will include “the world’s largest wind and solar electricity plant,” producing green hydrogen and ammonia.
Indiana’s solar capacity is set to surge in the next three years as the state’s second-biggest utility unveils plans to develop three large-scale PV projects, two of which will include battery storage.
Venture capital (VC) funding in battery storage companies in the third quarter of 2020 was up 78% on the previous quarter, while total corporate funding in the sector for the first nine months of the year rose by 62% compared to the same period in 2019.
A 50MW / 75MWh battery energy storage system (BESS) project in Western Sydney, Australia, will receive AU$21.5 million (US$15.35 million) in assistance from the federal and state governments towards its total cost of AU$61.9 million.
The first phase of a 1,000MW behind-the-meter virtual power plant (VPP) is expected to begin deployment in Australia as soon as the state of Victoria’s COVID-19 lockdown is over.
The latest annually-published figures from financial advisory and asset management firm Lazard show that the on the levelised cost of energy storage (LCOS) continues to fall, with solar-plus-storage becoming increasingly price competitive.
