A lithium-ion battery recycling plant is under construction in Norway, focusing initially on electric vehicle (EV) batteries, but the CEO of the company behind it has said that it will also be capable of processing batteries from stationary energy storage systems (ESS).
Tesla reported a significant increase in energy storage deployments for the fourth quarter of 2020, more than doubling record figures from the previous quarter as battery manufacturing expansions led to greater product availability but demand still outstrips supply.
Mexico’s economy, international competitiveness and quality of power on the electric grid – as well as its environment – could be given a serious boost if battery energy storage systems were given a greater chance to contribute, a developer of projects based in the country 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.
Kelly Speakes-Backman, CEO of the national Energy Storage Association (ESA), has been named in the newly appointed senior leadership team at the US Department of Energy (DoE).
Vertically-integrated vanadium mining, production and supply company Largo Resources wants to launch its own vanadium redox flow battery (VRFB) onto the market within a year-and-a-half, predicting that the technology will play a “critical role” in addressing significant demand for energy storage.
The amount of corporate funding coming into the global battery storage industry in 2020 was more than double the amount the previous year, with over US$6.5 billion raised last year compared to around US$2.8 billion in 2019.
Renewable energy uptake and the falling costs of battery energy storage are “inexorably linked” as the global economy faces a crucial decade ahead in its urgent need to decarbonise, according to work by McKinsey & Company.
