Carsten Reincke-Collon of Younicos continues his look at the potential – and limitations – of using blockchain in the energy system. This second part covers how energy storage and storage management software could be the key to the ‘puzzle’.
Over 9,000MWh of battery energy storage could be deployed in Britain over the next five years as the sector enjoys a trend towards “explosive growth”, a market analyst has said.
The European Investment Bank (EIB) has approved a loan request from Northvolt that will see the bank provide a financing facility of up to US$64.8 million to support Northvolt’s pilot demonstration facility.
Blockchain technology is being touted as the next big step forward in the digitalisation of the energy system. But storage and storage management software are the critical pieces of the puzzle needed to maximise its potential, writes Carsten Reincke-Collon of Younicos.
The latest auction for the UK’s Capacity Market cleared at a record low price at the end of last week as battery storage projects seemingly struggled to compete.
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.
