Cumulative energy storage installations will go beyond the terawatt-hour mark globally before 2030 excluding pumped hydro, with lithium-ion batteries providing most of that capacity, according to new forecasts.
“We think this is the first battery cell which is designed from the end users’ point of view, based on how they want to use it,” EVE Energy’s head of energy storage Steven Chen says.
Global residential energy storage shipments fell year-on-year for the first time in the second quarter of 2023, S&P Global said, amidst less energy price volatility, high inventories and rising costs.
Solar Module Super League (SMSL) member JinkoSolar is supplying large-scale battery energy storage systems (BESS) to customers in Nigeria and Japan, totalling 20MWh of combined capacity.
The West African Development Bank (BOAD) has approved a US$24 million loan for a solar and storage project in Senegal with a 15MW/45MWh battery energy storage system (BESS).
Substantial growth in China’s domestic energy storage market has led to locally-based players Sungrow and Hyperstrong becoming top five system integrators globally, S&P Global Commodity Insights said.
This year has seen major energy storage deployment plans announced by telecommunications network operators in Finland and Germany, and substantial fundraises by ESS firms targeting the segment.
Battery storage plays an important role in adding resilience to energy networks. But it should also be remembered that natural catastrophes can affect BESS resources too, writes Ross Kiddie of bespoke battery insurance company Altelium.
