Guidehouse Insights says that the annual power capacity deployments of battery-based residential energy storage systems (RESS) are expected to grow at a CAGR of 21.3% from 2021 to 2030 globally.
Construction has started on a 3.5GWh pumped hydro plant in Gran Canaria, Spain, and progress has been made on two other projects totalling 18GWh of storage in mainland Spain and Nevada, US.
Industry-watchers will closely follow how the recently completed acquisition of energy storage system integrator NEC ES by LG Energy Solution pans out.
Aspen Aerogels has raised US$150 million in financing from a Koch family investment firm to help grow its aerogel thermal barrier technology division, including new products which prevent thermal runaway in batteries.
Utility-scale battery energy storage system (BESS) installations in the US grew 196% to 2.6GW in 2021 but overall clean power installations fell 3%, according to the latest annual figures from the trade body American Clean Power Association (ACP).
Energy storage industry executives have urged US legislators to swiftly reach a consensus on the Build Back Better Act, with a strong emphasis on introducing the investment tax credit (ITC) for standalone storage.
A US government pledge of US$2.9 billion support for the country’s battery manufacturing and recycling value chain is more like a band-aid than the “major surgery” required to fix the problem.
FlexGen Power Systems has launched an electric vehicle charging solution combining its energy management system (EMS) platform and battery energy storage.
Thermal storage startup Antora Energy has raised US$50m from a group of investment firms including Bill Gates’ Breakthrough Energy Ventures to accelerate the development of its heat-based carbon block energy storage system for heavy industry.
LG Energy Solution, the battery technology arm of South Korea’s LG Group, has completed its acquisition of 100% ownership in battery energy storage system (BESS) integrator NEC ES.
