Update included confirmation that cash reserves stand at around US$4.31 million, enough to continue meeting the firm's obligations until December this year.
Chinese solar inverter manufacturer Sungrow not only continues to lead the global market for inverter shipments, the company’s energy storage business enjoyed huge growth in revenue during 2018.
SolarEdge is targeting a world where the “majority of solar systems will include storage”, according to CEO Guy Sella, as the company announced record revenues and shipments in the third quarter of 2018.
As well as Elon Musk remarking that the company may have had its “best ever quarter” for solar since the SolarCity takeover, Tesla’s energy storage deployments have enjoyed a ramp up, while a fellow exec hinted the stationary battery business is constrained by cell supply.
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.
Sunrun CEO Lynn Jurich has said that using behind-the-meter systems to provide grid services could be “extremely valuable in certain targeted ways” as the company rolls out energy storage systems into key regional markets.
Good Energy, one of the first utilities in Britain to offer all-renewable energy for consumers, has said it aims to start work on its maiden commercial energy storage development in November this year.
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.
Founder and CEO Paul Nahi last night announced his resignation from Enphase, the PV microinverter maker and energy management specialist, which also makes its own AC Battery for energy storage.
Leclanché has hailed recent project wins and a potential 450MW pipeline in reporting an improvement on its finances, which the company’s CFO has called “the first stage of our journey towards EBITDA breakeven”.
Electric car maker turned ‘integrated sustainable energy company’ Tesla installed 98MWh of energy storage in the final quarter of 2016, according to its financial results released last week.
Swiss battery manufacturer Leclanché has reported an increase in revenues for 2016 of 56% compared to the previous year, netting unaudited preliminary revenue of CHF28 million (US$27.66 million) for the calendar year.
Canada-headquartered lithium-ion battery manufacturer Electrovaya increased its revenues year-on-year in the financial year which finished at the end of September, but the company also reported increased losses.
Manufacturing equipment supplier Manz AG said 25% of its revenues for the first nine months of this year came from its energy storage segment, despite the ill effects of a large order being stopped.
French energy storage system maker Electro Power Systems has reported “outstanding results” for the first quarter of this year as well as a €2.4 million backlog of orders in East Africa, Asia-Pacific and Italy.
German lithium-ion based energy storage system maker Sonnen says it achieved an undisclosed “seven-figure sales number” in the US in the first quarter of this year.
Tesla executives were unwilling to publicly put figures on expected sales for the company’s stationary storage products or for near-term cost reduction objectives, but said that production is on track.
Tesla boss Elon Musk has claimed that his company is already sold out of stationary storage products for next year before the first ones have even been shipped to customers.