Europe’s response to the US’ Inflation Reduction Act (IRA) has been a big talking point at Giga Europe, and one panellist said the simplicity of the IRA has been key to its success.

Rooftop solar and utility-scale energy storage growth led renewable energy to fulfil almost 40% of Australia’s electricity supply in 2023.

The EU is ‘stepping up its game on battery gigafactories’, European Commission executive VP Maroš Šefčovič said at the Giga Europe conference today (12 March).

This Friday briefing looks at the trend of long-duration energy storage (LDES) technology companies eyeing project development, the role Europe’s gigafactory projects play in the continent’s energy storage system (ESS) market, and the inherent challenges that come with vertical integration.

The US Department of Agriculture (USDA) is putting US$2.3 billion into projects increasing energy resiliency in rural communities, with two energy storage projects already shortlisted for awards in Arizona and Nebraska.

The regulator in Germany has given the green light to transmission system operator (TSO) Amprion’s five ‘decentralised grid booster’ BESS projects, totalling 250MW.

Two new BESS projects have been announced in Australia, with the DK BESS 2 in the Northern Territory and a 200MW BESS project in New South Wales.

The US Department of Energy (DOE) will allocate over US$366 million for 17 clean energy projects in rural and remote areas in the US. 

US energy storage provider and renewable asset management services group Stem Inc. has confirmed guidance that it will be EBITDA positive throughout 2024.

Germany and Spain are among the energy storage markets of Europe that clients are most keen to learn more about, according to Wood Mackenzie analyst Anna Darmani.