The Asia-Pacific region will continue to be the world’s leading centre of lithium-ion cell manufacturing for the next decade, but it won’t just be price reductions in batteries that will drive a 30% drop in front-of-meter battery storage in key markets China, Australia and South Korea.
Independent power producer (IPP) Broad Reach Power has made the first of “several planned expansions” into California’s market for energy storage, acquiring the 25MW / 100MWh Cascade Energy Storage project.
The importance of software for the bankability of a project is growing, as the opportunities for energy storage around the United States continues to expand.
The US industry deployed 168MW / 288MWh of energy storage in the second quarter of this year, the second highest quarterly figures on record, according to Wood Mackenzie Power & Renewables.
Analysis firm Wood Mackenzie has held onto its forecast that the US will deploy around 7GW of energy storage annually by 2025 and found that 97.5MW / 208MWh of storage was installed during the first quarter of this year.
Managing investor expectations and monetising demand for flexibility are key to future-proofing the industry's business case, financiers stress at Energy Storage Summit.