There has been growing uptake in battery energy storage in Midwestern US states that have traditionally depended on burning coal for electricity, with some “very big projects planned,” an analyst has said.
Despite the fall in unit prices for energy storage, a total of US$3.6 billion of investment was committed to energy storage projects in 2020, around the same amount as in 2019.
Find out what’s been going on in the UK energy storage market over the past three years, presented by not-for-profit clean energy expert group Regen at the Virtual Energy Storage Summit which took place online in late September.
While European power markets outpace the US and China for renewable energy deployment, the continent’s policymakers are yet to recognise the importance of energy storage for integrating that capacity onto the grid, new research from Wood Mackenzie Power & Renewables finds.
The market for grid-connected energy storage will defy the “headwinds” caused by the coronavirus pandemic on industries across the world, analysis firm IHS Markit has predicted.
Dimitrios Pappas, analyst at new energy consultancy Delta-EE, considers the impact the novel coronavirus (COVID-19) could have on the energy transition, particularly for batteries used in EVs and ESS, while Energy-Storage.news editor Andy Colthorpe adds his own take.
While recycling of lithium and other materials such as cobalt from batteries will greatly increase in the coming years, the potential availability of second life batteries should not be underestimated, according to new research and data.
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).
The residential energy storage market in the US has just enjoyed one of its biggest growth spurts so far, although action is mostly centred in specific states with supportive policies and conditions.
While acknowledging that the economics “vary significantly” by region and application, Navigant Research has forecast that energy storage for integration of renewables and co-located with solar or wind could be worth more than US$20 billion by 2026.
While energy storage can be considered “critical” to Australia’s transformation to a distributed, low carbon energy mix, a lack of investment and planning for the technology could have negative consequences for the network.
The US national Energy Storage Association (ESA) has advocated that the nation should aim to deploy 35GW of energy storage by 2025, claiming it could result in US$4bn of network cost savings and generate 167,000 jobs.
A representative of National Grid, the UK’s transmission system operator (TSO), has said that energy storage will be “integral” to the network’s flexibility strategy – while urging developers not to rely solely on early frequency regulation contracts.
While decreases in costs continue to make energy storage more and more competitive, financial advisory and asset management firm Lazard has highlighted just how variable project economics can be, citing examples of US projects with 9%, 11% and 21% IRR (internal rate of return).
A City of London investment bank has said it agrees that Swiss energy storage maker and integrator Leclanché will reach profitability, but expects it to take a year longer than the company itself has predicted.
Pierre-Pascal Urbon, CEO of solar inverter manufacturer SMA, has said that the company is anticipating medium-term “exponential growth” in the energy storage market, reporting a “positive performance” in storage-related sales.
Interest in energy storage in the Middle East is ‘ramping up significantly’, as we reported last week in an extract from this interview with IHS Markit analyst Julian Jansen. His firm is forecasting 1.8GW of energy storage for the region by 2025 – from an installed base of next-to-nothing today. Jansen talked us through some of the drivers, market dynamics and the general picture of what we might see developing.
National Grid has reduced its forecasts for electricity storage capacity in the UK down to just 10.7GW by 2050 in the most ambitious scenario set out within its future projections for the energy sector.
While the global energy storage industry has continued its pace of rapid growth during the past year, well-established markets remain highly concentrated in specific regions of the world. Alex Eller of Navigant Research discusses many of the factors influencing growth trends for energy storage at both utility-scale and distributed levels.
Hybrid systems combining the complementary aspects of more than one technology could “change the energy storage landscape”, with 2.1GW predicted for deployment in less than 10 years, according to a report from Navigant Research.
In less than 10 years, distributed solar-plus-storage systems will reach 27.4GW worldwide and be worth more than US$49.1 billion, with Asia and Western Europe leading the way, a new report from Navigant Research has forecast.
To date, Primary Control Reserve (PCR) has dominated the energy storage debate in Germany with more than 100MW of battery storage installed in 2016 alone specifically for participating in the PCR market. At the same time, with close to 25,000 systems sold in 2016, residential storage has been stealing the limelight in the behind-the-meter segment. Julian Jansen of Delta-ee looks at how his team expects the commercial and industrial (C&I) segment to start catching up.
Financial services giant Morgan Stanley has anticipated that the US energy storage market will grow faster than current consensus expectations, while Deloitte has earmarked the technology for exponential growth – although not perhaps this year.
Every year sees energy storage build on the success of the preceding one, it seems, and this year we were able to carry insights and opinions from some of the best placed participants and observers. Here’s our picks for the content most representative of the year it’s been, as well as the 10 most read news stories on the site.
Remaining on the grid while using solar paired with batteries is likely to become a more economically attractive option for commercial and residential customers in key US markets, a new report from the Rocky Mountain Institute (RMI) claims.
Two recent reports, one from credit rating and investment advisory agency Moody’s, the other from technology and tech market analysts Navigant Research, appear to show divergent views on the potential of distributed energy storage, including residential solar-plus-batteries.
The US market for solar-plus-storage is predicted to grow more than twentyfold in the next three years, rapidly expanding from US$42 million in value this year to US$1 billion by 2018, according to GTM Research.