Supply chain shocks are causing short-term rises in the price of lithium-ion battery packs, but overall the price trend is downward and by 2024 average prices could dip below US$100/kWh.
Two trial projects have been announced where vanadium redox flow battery (VRFB) energy storage systems will support electric vehicle (EV) charging solutions, one in South Korea, the other in Australia.
Around 20 energy storage systems (ESSs) are to be deployed at roadside service stations in the UK where the grid supply isn’t enough for rapid charging infrastructure, the country’s government has said.
Annual residential battery storage installations in Europe passed the 100,000 mark for the first time ever in 2020, reaching a cumulative total of 3GWh capacity.
The US House of Representatives has passed Joe Biden’s Build Back Better act, which now moves to the Senate, where negotiations will continue over the legislation.
The government of Queensland will commit “at least AU$10 million (US$7.21 million)” to building a multi-user vanadium processing plant to capitalise on natural resources in the Australian state.
London Stock Exchange-listed transatlantic flow battery manufacturer Invinity Energy Systems has conditionally raised £25 million (US$33.46 million) gross proceeds through a share placing.
Long-duration energy storage has a crucial role to play in decarbonising the global energy system sufficiently to avoid catastrophic climate change as long as its value can be unlocked.
