Lithium-ion OEM LG Energy Solution will slow its expansion to focus on increasing utilisation at existing production lines, while also starting battery production in the US for energy storage next year, it revealed in its quarterly results.
The US Treasury and Internal Revenue Service (IRS) have finalised the rules and process for the 45X advanced manufacturing tax credit, which effectively provides a subsidy to domestic clean energy technology manufacturing, including batteries.
Transferability and the Inflation Reduction Act (IRA) have opened up tax equity financing to the wider corporate world, but significant risks remain with so many new entrants, tax credits specialist Foss & Company told Energy-Storage.news.
Automotive group Mercedes-Benz has inaugurated what it claimed is the first integrated hydrometallurgical facility in Europe for battery recycling in Baden-Württemberg, Germany.
Singapore’s government and Energy Market Authority have announced power sector and grid enhancements, including a possible expansion of Southeast Asia’s biggest battery storage plant.
A roundup of news from Europe, with Alfen and Sermatec deploying BESS projects in Sweden and Bulgaria and new firm terralyr raising €77 million for project development and operation, starting in Germany.
World leaders attending COP29 next month have been encouraged to sign a pledge to collectively increase global energy storage capacity to 1,500GW by 2030.
