Over 9,000MWh of battery energy storage could be deployed in Britain over the next five years as the sector enjoys a trend towards “explosive growth”, a market analyst has said.
The European Investment Bank (EIB) has approved a loan request from Northvolt that will see the bank provide a financing facility of up to US$64.8 million to support Northvolt’s pilot demonstration facility.
Vertically-integrated solar energy company First Solar will be involved in the first megawatt-scale battery system announced in Arizona since it was revealed the state could put a 3,000MW energy storage deployment target in place.
The latest auction for the UK’s Capacity Market cleared at a record low price at the end of last week as battery storage projects seemingly struggled to compete.
The UK’s government must “take the brakes off” the progress of energy storage by implementing the right policy framework without delay, according to Members of Parliament (MPs) from across the political spectrum.
Tesla reported another major decline in its residential solar installations for the fourth quarter of 2017, while a supply shortage for its residential energy storage system ‘Powerwall 2’ has created a customer backlog of solar and storage installs of more than one year.
London-headquartered oil and gas company BP has announced plans to invest US$500 million (£358.5 million) in low carbon businesses each year as it looks to further embrace the low carbon transition.
A spokesman for S&C Electric has confirmed the company will no longer be producing its power conversion system (PCS) for energy storage systems but will remain in the market as a system integrator.
