Venture capital (VC) funding for battery and energy storage companies totalled US$126 million in the second quarter of this year, almost doubling Q1’s US$69 million total raised, according to a report from Mercom Capital Group.
Terraform Power, the renewable energy investment vehicle launched by SunEdison, the world’s biggest cleantech developer at present, is set to make its first acquisition in energy storage, SunEdison announced yesterday.
Energy storage can become a “significant” component for future balancing of the UK National Grid, but must overcome policy challenges if it is to realise its potential.
Australia’s “largest solar and battery storage project to date” will be built by German developer Juwi at a copper and gold mine, with support from public bodies including the country’s Clean Energy Finance Corporation (CEFC).
Some news in brief from around the world of energy storage this week: Dutch grid-balancing act heralds AES’ first Europe installation, Japanese PV inverter company Tabuchi makes bid to become household name in US solar-plus-storage and Solar Impulse takes unscheduled break from spreading clean energy message.
There is “still an argument to be had” over the best use of storage solutions in the UK markets, with pure storage or back-up capabilities two possible options according to LG Solar head of UK sales Bob Mills.
Battery manufacturer BYD’s deal to supply up to five electric double-decker buses for London is a “big win” for the company but not enough for them to start discussions on a European base, according to Lux Research’s Lilia Xie.
Energy storage technology is now used in 44% of US microgrids with 92% of that storage commissioned since 2012, according to GTM Research’s latest report.
The opening keynote address at Intersolar North America next week will be delivered by Tesla’s chief technical officer (CTO) JB Straubel.
Some news in brief from around the world of energy storage this week: UK residential storage company chases scale with crowdfunder, Younicos could hire 150 more employees by 2017, and Southern California Edison is set to flick the switch on a grid-stabilising storage system from NEC ES.
