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While the 83% year-on-year drop sounds dramatic, Q1 2022 was an outlier due to the inclusion of LG Energy Solution's US$10.7 billion IPO which itself accounted for 83% of that quarter's total. Image: Solar Media using Mercom Capital data.

Corporate funding for battery storage companies slows down in Q1 2023

April 18, 2023
Corporate funding activity into battery storage companies in the first quarter of 2023 fell considerably year-on-year and quarter-on-quarter, according to research from Mercom Capital.  
Energy minister Chris Bowen (left) at Wallgrove, a 50MW/75MWh BESS project in Western Sydney, NSW, Australia. Image: Transgrid.

Australia had over 2GWh of large-scale battery storage under construction at end of 2022

April 18, 2023
Nearly double the megawatt-hours of large-scale BESS under construction in Australia by the end of 2022 compared to 2021.
Testing of battery cells at the lab of analytics company TWAICE, one of the consortium partners. Image: TWAICE.

European Union’s mandatory Battery Passport sustainability effort starts to take shape

April 17, 2023
Guidance on the EU Battery Passport has been released by consortium tasked with supporting flagship sustainability and transparency effort.
A 19.3MW floating solar PV plant under construction in Israel. Image: BELECTRIC.

Israel adds energy storage-friendly tariffs to maximise renewable energy potential

April 17, 2023
The Electricity Authority of Israel (PUA) has introduced a supplementary tariff for PV facilities combined with energy storage.
Vanadium ore. Image: Australian Vanadium.

Startup Elcora wants vanadium pentoxide plant near mine in Morocco to feed flow batteries

April 6, 2023
Elcora is developing a vanadium pentoxide plant in Morocco to complement raw materials extraction.
Switch Power team members visiting the potential site for a client's community solar project in 2022. Image: Switch Power via Twitter.

IPP Switch Power brings online five Ontario BESS projects in 25MW/44MWh C&I portfolio  

April 6, 2023
Switch Power has commissioned five battery storage projects in Ontario, Canada.
The awards officially launched at the Energy Storage Summit in London earlier this year. Image: Solar Media.

Introducing… The Energy Storage Awards 2023

April 5, 2023
The inaugural Energy Storage Awards: recognising excellence, hard work and innovation in the European industry.
Centrica's Roosecote battery energy storage system (BESS) project in England. Image: Centrica.

UK Infrastructure Bank, Centrica to invest up to £265 million in energy storage

April 4, 2023
UK Infrastructure Bank plans to invest up to £265 million (US$331.45 million) in energy storage development in the UK, in partnership with British Gas owner Centrica Plc.
An example of a neighbourhood battery system in West Australia, installed in a trial by Western Power. Image: Western Power.

Australia injects AU$120 million funding to ‘fix knowledge gap’ on community battery storage

April 4, 2023
An AU$120 million (US$81.34 million) government funding round has opened in Australia for community battery energy storage projects.
Then-state premier Steven Marshall speaks at the 2018 opening of a factory in South Australia by home ESS maker Sonnen. The state accounted for 27% of market volume in 2022 and leads in per-household installations. Image: Sonnen.

Australia’s residential energy storage market grew 55% in 2022

April 3, 2023
The Australian market for residential battery storage grew by an estimated 55% in 2022 from the previous year, according to SunWiz.

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