Some long-duration energy storage (LDES) technologies are already cost-competitive with lithium-ion (Li-ion) but will struggle to match the incumbent’s cost reduction potential.

China’s National Development and Reform Commission and the National Energy Administration have issued new rules for the power market.

The World Bank and other financial institutions will provide a US$159 million package for a 250MW solar PV, 63MW battery energy storage system (BESS) project from UAE state-owned renewable energy developer Masdar in Uzbekistan.

France-headquartered independent power producer (IPP) Voltalia has started building a 126MW solar PV project in Uzbekistan, to which it will add a 50MW/100MWh BESS with plans to build another project ten times as big.

Battery storage project development costs will continue to fall in 2024 as lithium costs decline “significantly,” according to BMI Research.

US asset manager Stonepeak has entered Japan’s energy storage market, forming a partnership with CATL-backed developer CHC.

The Biden Administration will more than triple the tariffs paid on batteries and battery parts imported from China, from 7.5% today to 25%, in a huge move for the industry announced today.

Commissioning has been completed on the first commercial-scale project using Energy Vault’s gravity energy storage technology, while the firm has also secured a 400MWh BESS order for a project in Australia. However, it expects revenues this year to be 70-85% lower than 2023.

Regulatory approval has been granted for what is claimed to be India’s first commercial standalone battery storage project.

Over a gigawatt of bids from battery storage project developers have been successful in the first-ever competitive auctions for low-carbon energy capacity held in Japan.