Corporate funding into the battery storage sector in the first quarter of this year totalled US$4.7 billion across 17 deals, a huge leap from the equivalent period of last year, according to a new report from Mercom Capital.
Battery storage can be a significantly cheaper and more effective technology than natural gas in providing peaking capacity, according to a new study released by the Clean Energy Council, the industry group which represents Australia’s clean energy sector.
California’s goal of reaching 100% emissions-free retail electricity by 2045 is achievable, but will require huge deployments of long-duration energy storage, especially from 2030 onwards.
The US could see new mines and raw material production “scale up” as demand for battery energy storage systems and grid resilience increases over the next decade, according to Margaret O’Riley, battery, automotive and electrification business recruitment lead for Duke Energy Corporation.
Battery storage systems have been proven to be “extremely lucrative” for commercial and industrial (C&I) customers in the US, but a lack of customer knowledge of regulations and supply shortages of battery cells could yet stymie the market’s growth.
While interconnection queues for America’s electric transmission and distribution operators are “swelling up” with growing numbers of energy storage projects, some of the big challenges ahead include enabling fair market participation for both standalone storage and storage paired with generation.
The drive towards longer duration energy storage will likely be multifaceted, with different technologies finding their place both in front of and behind the meter.
Europe’s cumulative electrochemical energy storage installation capacity has gone past the 5GWh mark and this year is likely to see installations almost double from 2020’s figures.
Early days of the new regime have been applauded for their progressive nature, but lack of proper cost-benefit analysis for storage and concerns of trade tariffs remain
