The global energy storage market will grow to a cumulative 942GW/2,857GWh capacity by 2040, attracting US$620 billion in investment, caused by sharply decreasing battery costs, according to a Bloomberg NEF (BNEF) report.
A smart grid pilot will be put into action in the Thai province of Mae Hong Son, to integrate and balance growing shares of renewable energy using battery energy storage systems (BESS).
Transmission system operators in the US have begun making their moves to accommodate energy storage into their wholesale markets, with New England ISO and Southwest Power Pool both making filings in the past month.
A ceremony was held yesterday in Niedersachsen, Germany, to welcome the start of operations at a ‘hybrid’ energy storage plant that will use a combination of sodium-sulfur and lithium-ion batteries to stabilise the grid.
Sembcorp will collaborate with Singapore’s Energy Market Authority (EMA) as part of a pilot programme to support the deployment of energy storage in the country.
Vanadium redox flow battery maker VRB Energy has begun commissioning a 3MW / 12MWh energy storage system project in Hubei, China, which is expected to help serve as a demonstrator for much larger projects to come.
South Korea’s government is planning for 100MW of battery storage as part of a nearly 3GW hub of solar PV and wind on reclaimed land in Saemangeum, which is an estuarine tidal flat on the coast of the Yellow Sea.
Two community energy groups in California have partnered to buy the energy output of a 150MW solar farm with 180MWh of battery energy storage from Recurrent Energy, the US-based utility-scale solar project developer subsidiary of Canadian Solar.
Arlington Energy, a clean energy investment group, has announced plans to build out a 1GW portfolio of energy storage and gas peaker projects across the UK after securing initial funding of £200 million (US$255 million) from an offshore fund of institutional investment.
