The US’ installations of advanced energy storage — almost entirely lithium-ion battery systems — went beyond the 1GW mark in 2020, while in capacity terms the figure was close to 3.5GWh.
With the current tariff framework for energy storage in Ireland set to come to an end in April 2023, there is scepticism over the support that will follow.
The success of an auction for fast reserve grid services held by Italy’s transmission system operator (TSO) indicates a strong appetite for battery storage, but market rules and regulations need some revision to capture that opportunity.
Energy market mechanisms must evolve in order to support long-duration energy storage, with the existing frameworks having “significant problems” incentivising those technologies, a panel of experts has concluded.
The sudden and rapid use of Special Purpose Acquisition Companies (SPACs) to launch privately-held companies into publicly-listed entities is a minor phenomenon of our time and some players in clean energy industries including energy storage, have been quick to join the wave. It can work out really well, but it can also all end in tears: so choose wisely, says Charles Lesser, partner at Apricum – The Cleantech Advisory.
The energy storage market is poised for strong growth over the next decade and opportunities are likely to emerge for alternatives to lithium-ion that offer longer durations of storage, but three key challenges remain for those technologies.
There has been growing uptake in battery energy storage in Midwestern US states that have traditionally depended on burning coal for electricity, with some “very big projects planned,” an analyst has said.
Bigger projects, increased synergy with renewable energy generation, better evolved business models and a forward-thinking market design have contributed to the success of battery storage in the UK, with neighbouring Ireland also showing strong signs of rapid growth.
Analysis and research firm IHS Markit has predicted that over 10GW of new energy storage will be deployed during this year, with around half of those additions in the US market.
