Huawei and BYD were among the five largest battery energy storage system (BESS) integrators globally last year, with the Chinese market going through a ‘price war’ of competition, according to research from Wood Mackenzie.
Power technology firm Wärtsilä has initiated a strategic review of its energy storage and optimisation (ES&O) business, with “all potential alternatives considered” including divestment.
Only half of the energy storage needed to properly integrate the potential solar PV additions globally by 2030 will be deployed based on current policies, the International Energy Agency (IEA) said in its World Energy Outlook report for 2023.
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.
