The deployment of energy storage in the US is set to triple in 2015 compared to 2014, according to a new report by GTM Research and the Energy Storage Association (ESA).
Lithium-ion (Li-ion) batteries accounted for 90% of all proposed grid storage projects in 2014, according to a new study by Lux Research.
Energy storage is likely to be worth “tens of billion dollars in the next five to 10 years” across a number of global regions, according to executives at solar microinverter firm Enphase.
For decades Australia has been at the forefront in deploying renewable energy, coupled with energy storage solutions, in off grid and fringe of grid areas across remote Australia. Many communities have transitioned away from polluting and expensive diesel generators and now use reliable and sustainable renewable energy and energy storage solutions. But it is only now that the full impact of lower energy storage costs are becoming clear, writes John Grimes of the Australian Energy Storage Council.
E.ON, the German utility giant with 61GW of generation assets, has announced plans to split its business in two. The company will stake its future on renewables in a major restructuring, spinning off its conventional power generation business, in part as a response to the growth in distributed generation. Cosmin Laslau of Lux Research digs deeper.
This year will be the one when “PV energy storage systems (PVESS) make an enormous leap toward wide-scale adoption”, according to research firm IHS.
Investment bank Citigroup is predicting a 240GW global battery storage market worth US$400 billion by 2030 as increased deployment creates a “virtuous circle” of falling costs.
Energy storage and battery companies netted US$418 million in funding, while a further US$232 million changed hands in mergers and acquisitions (M&A) of battery or storage companies during 2014, according to a new report from Mercom Capital.
Energy security is a growing concern for economies across the world with electricity outages currently costing economies billions of dollars annually, driving electricity prices up. The US experienced nearly 700 power outages caused by severe weather between 2003 and 2012, costing the country up to US$70 billion annually.
Will the Indian battery market scenario witness a major change? As the power supply in the country continues to be unreliable, the role of batteries has to change from being an emergency back-up solution to a long time power/energy storage solution.