The UK’s government must “take the brakes off” the progress of energy storage by implementing the right policy framework without delay, according to Members of Parliament (MPs) from across the political spectrum.
London-headquartered oil and gas company BP has announced plans to invest US$500 million (£358.5 million) in low carbon businesses each year as it looks to further embrace the low carbon transition.
GE has formed a strategic alliance with UK energy infrastructure company Arenko to develop grid scale batteries in the UK, starting with a 41MW system in the Midlands.
Battery storage and demand-side response have continued to play a crucial role in the UK’s power mix, together landing more than 500MW of contracts in the most recent T-1 Capacity Market auction.
A utility in Bremen, Germany, has contracted multinational engineering group AEG to build a hybrid solution for regulating grid frequency which combines electrochemical batteries and power-to-heat technology.
The CEO of Orsted, the world’s largest offshore wind developer, has said that his company is working to establish “a scalable commercial model” for solar PV and energy storage, viewing both as potential drivers of long-term growth.
VC funding for energy storage projects increased significantly, while debt and public market financing remained “steady” during 2017, Mercom Capital has found.
The European electricity storage market has seen an impressive growth over the past two years. Whereas in 2015 some 300MWh of battery storage capacity was newly installed, just two years later in 2017, more than 700MWh was added. Delta-ee’s Valts Grintals gives you some highlights and pinpoints some recent trends across the continent.
Four projects have been awarded £42 million (US$59.6 million) of UK government money between them to conduct research aimed at overcoming battery challenges, mainly focused on electric vehicles.
