Stem Inc is on track to meet its target of achieving positive EBITDA during 2023, the company claimed as it posted a 63% year-on-year quarterly revenue increase in its latest financial results.
Global battery storage system integrator Powin and recently-launched EPC firm Linxon have secured battery storage project contracts in ERCOT, Texas, totalling 400MWh and 200MWh respectively.
As distributed energy resources such as residential solar rooftop increase in the next decade, aggregation into virtual power plants could save US utilities up to US$35 billion, according to The Brattle Group.
The Inflation Reduction Act could “suck the oxygen out” of the Latin American (LatAm) energy storage market, the CEO of pan-American energy storage firm On.Energy said.
Utility Xcel Energy has received a US$20 million grant commitment from VC firm Breakthrough Energy for projects using Form Energy’s iron-air battery, while a sodium ion battery firm has secured bridge financing.
A ‘first of its kind’ microgrid will be installed at a California substation, where it will use a combination of lithium-ion batteries and green hydrogen to provide 48 hours of back up.
Element Energy’s large stock of batteries for second life energy storage are mostly LG batteries recalled from EVs in the last few years due to fire safety concerns, a source told Energy-Storage.news.
