Project funding for energy storage jumped to US$820 million in 2016 from just US$30 million in 2015, while Sonnen was revealed as the energy storage company to raise the most VC funding this year.
US energy storage had a fairly quiet period in the third quarter of this year deploying just 16.4MW/31.4MWh but enjoyed a record quarterly sum of US$660 million of corporate investment.
The participation of venture capital (VC) investors seems to have cooled, while project funding has conversely seen a sharp rise, in the latest quarterly report into funding and mergers and acquisitions from Mercom Capital.
Canadian manufacturer Sentinel Solar has announced a ‘plug-and-play’ energy storage system, the AHI Wave ESS, for residential use.
Mercom Capital Group’s latest report showed how energy storage companies brought in US$125 million in venture capital (VC) funding in Q2 2016, double that of the previous quarter. Year-over-year funding this second quarter roughly matched last year’s Q2 output, which had US$126 million in 13 deals.
Energy storage system integrator Advanced Microgrid Solutions (AMS) has secured US$200 million of project finance from Macquarie.
Another period of growth in US energy storage was enjoyed in the first quarter of 2016, up by 127% year-over-year compared to the equivalent period in 2015, GTM Research has found.
