Investment into the Ontario market for commercial energy storage has received another big boost, with US energy storage provider Stem Inc announcing today a significant cash injection from the Ontario Teachers’ Pension Plan group.
The commercial and industrial segment is one of the most promising sub-sectors of the energy storage space. Julian Jansen of IHS Markit describes recent efforts to model the US C&I storage landscape and what it reveals about this dynamic emerging market. As told to Andy Colthorpe.
The CEO of ‘intelligent energy storage’ provider Stem Inc, has said a recently-awarded project in Japan will lean on business models the company has used in the US, while artificial intelligence (AI) technology makes that same transference possible.
Japanese trading house Itochu has invested £5 million (US$7.04 million) into UK-based energy storage and related services provider Moixa, which will enable Itochu to add Moixa’s ‘GridShare’ aggregation platform to its own suite of battery storage solutions.
Stem Inc, self-described as a supplier of “artificial intelligence-powered” energy storage, which deployed a system on average every two days last year, has closed a US$80 million Series D financing round.
Leaders in the fledgling commercial and industrial (C&I) sector in the US have made energy storage ‘as-a-service’ the core of their proposition, a market analyst has said.
Legislation recently introduced in California to cut red tape and reduce permitting times for energy storage systems and currently awaiting the state Governor’s rubber stamp could also halve the costs associated with paperwork, commercial system provider Stem has said.
ROUNDUP: Duke Energy’s pilot plan, 200MW NSW PV-plus-storage application, SunPower’s college project
News in brief from this week in energy storage around the world.
California’s grid operations will be supported by the ramping of an estimated 3,000MW of energy storage, when a solar eclipse expected across the Pacific North-West of the US will cause PV generation to dip.
Stem Inc. will build a 4.2MWh energy storage project on the California State University (CSU) Dominguez Hills campus to help the institution save on energy costs.
The California Public Utilities Commission (CPUC) has reformed the Self-Generation Incentive Programme (SGIP) that finances the installation of distributed generation technologies, to now benefit long-duration technologies that previously missed out on the incentive, through the extended US$83 million a year for behind-the-meter storage.
Energy storage developers have an opportunity to prove the benefits of storage systems compared to fossil fuel technologies in what will be one of the fastest energy storage procurements in history pending in California, according to industry commentators and analysts.
Adobe is among the participants earning revenues from what is claimed to be an energy storage industry first – a trial rewarding California storage system users for conferring benefits to the grid.