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.
The US must open up access to its grid and allow anyone who generates electricity to sell it on, according to an executive from energy storage company sonnen.
India’s transport minister Nitin Gadkari has called on Tesla to set up an Asian manufacturing hub within India and even offered land near major Indian ports to facilitate vehicle exports.
Commercial energy storage economics are attractive today in seven US states, but according to GTM Research’s latest report, that number is to increase to 19 states by 2021, as storage costs continue to fall.
Commercially viable energy storage has the potential to change the game by solving the energy trilemma. Arshad Saleem, from KIC InnoEnergy, which invests in and supports European sustainable energy, says marrying start-up innovation and big business experience could accelerate the journey to viability.
South Korean corporate industrial holdings company Doosan has acquired Seattle-based 1Energy Systems, which develops the software platform needed to automatically integrate distributed energy resources (DER) into the grid.
US senators have introduced a new Bill for energy storage that brings in investment tax credits (ITC) for both grid-scale and residential energy storage systems, in a bid to open up competitive storage markets.
The global grid-connected energy storage project pipeline is forecasted to hit 2GW this year; a 20% increase on the figures for the end of 2015, according to new analysis by IHS.
Elon Musk’s electric vehicle and energy storage firm is poised for another major initiative after the founder announced that he is working on a “Tesla Masterplan, Part 2.”
The California Public Utilities Commission (CPUC) has reformed the Self-Generation Incentive Programme (SGIP) that finances the installation of distributed generation technologies, to now benefit long-duration technologies that previously missed out on the incentive, through the extended US$83 million a year for behind-the-meter storage.
