An Australian Renewable Energy Agency (ARENA) programme to put AU$120 million (US$78.17 million) towards community battery storage received applications for more than ten times that amount.
The amount of large-scale battery energy storage systems completed in the US as of Q3 2023 already exceeds the whole of 2022, American Clean Power said.
Huawei and BYD were among the five largest battery energy storage system (BESS) integrators globally last year, with the Chinese market going through a ‘price war’ of competition, according to research from Wood Mackenzie.