VC funding for battery energy storage companies in the first half of this year has already exceeded 2016’s total and looks on the way to bettering 2017, with US$539 million raised across 29 deals.
India’s Goods and Services Tax (GST), a single tax applicable across the whole of the country, will be lowered for lithium-ion batteries by 10%, in a move which has been welcomed by the India Energy Storage Alliance (IESA).
Long duration energy storage will be put to use in Germany’s grid, with RedT, a UK-headquartered maker of flow energy storage ‘machines’, announcing an initial 80MWh deployment to the country.
UK transmission network operator (TNO) National Grid has used a new web-based platform to dispatch ancillary services using battery storage in the first example of the new system being implemented across its reserve products.
Investment into the Ontario market for commercial energy storage has received another big boost, with US energy storage provider Stem Inc announcing today a significant cash injection from the Ontario Teachers’ Pension Plan group.
Battery installations are underway at a European Regional Development Fund-backed project deploying low carbon infrastructure on the Isles of Scilly, in a model that it is hoped could be widely replicated elsewhere.
Hyderabad-headquartered firm Greenko Energies has received state government approval for a huge renewable energy project involving 1GW of solar, 550MW of wind and 1.2GW of pumped energy storage in the Indian state of Andhra Pradesh.
UK renewable electricity supplier Solo Energy is set to launch a ‘free battery’ business model to UK homeowners after a successful pilot on the remote Scottish islands of Orkney.
Currently attracting developers and investment alike, the opportunity to reduce energy costs for businesses in Ontario has led to an agreement for another 42MWh of energy storage from project developer NRStor and solutions provider IHI Inc.
