Investment bank Citigroup is predicting a 240GW global battery storage market worth US$400 billion by 2030 as increased deployment creates a “virtuous circle” of falling costs.
Energy storage and battery companies netted US$418 million in funding, while a further US$232 million changed hands in mergers and acquisitions (M&A) of battery or storage companies during 2014, according to a new report from Mercom Capital.
Will the Indian battery market scenario witness a major change? As the power supply in the country continues to be unreliable, the role of batteries has to change from being an emergency back-up solution to a long time power/energy storage solution.
The UK’s Renewable Energy Association (REA) has launched two new trade groups to represent the solar and storage industries respectively.
Two recent reports, one from credit rating and investment advisory agency Moody’s, the other from technology and tech market analysts Navigant Research, appear to show divergent views on the potential of distributed energy storage, including residential solar-plus-batteries.
Grid storage and distributed energy technologies overseen by the Advanced Research Projects Agency – Energy (ARPA-E) in the US will be accredited by technical advisory service DNV GL for the next four years.
A 1MWh battery developed by US manufacturer Aquion Energy and installed at a private estate in Hawaii will allow the area’s residents to meet almost all of their electricity demand with power generated from a connected solar array.
Covering the energy storage market has been an interesting – if occasionally bumpy – ride so far and we can expect it to be an even more vibrant and action-packed space from here on in. From the top five most-read news stories to some great interviews via our regular guest blogs, we’ve rounded up some highlights from our year.
In the second part of his exploration of the areas of the world taking a lead in supporting the deployment of storage, Andy Colthorpe looks at Germany, Japan and Puerto Rico.
Parallels are frequently drawn between the nascent energy storage business and solar 10 years ago – that it needs strong policy direction to take off. Andy Colthorpe profiles some of the areas emerging as world pioneers in supporting the deployment of storage.
