The revenue advantage of 2-hour battery energy storage systems (BESS) in Germany versus 1-hour systems is nearly three times higher than it was two years ago, optimisation firm Entrix told Energy-Storage.news after its latest fundraising round.
Iron-air battery firm Form Energy has received a US$12 million grant from the state of New York for a 1GWh long-duration energy storage project, whilst Ecolectro Inc, PolyJoule Inc and Urban Electric Power received smaller amounts.
Concern has been raised by the industry about battery storage consistently being overlooked in the UK’s Balancing Mechanism (BM), as the sector’s average revenues plummeted in the first half of 2023.
AES Andes, a subsidiary of US multinational AES Corporation, has completed the largest battery system project in Latin America with an output of 112MW.
Independent power producer (IPP) Clearway Energy has closed US$421 million in financing for the 147MW/588MWh four-hour Rosamund Central Battery Energy Storage System (BESS) in Kern County, California.
Californian investor-owned utility (IOU) San Diego Gas & Electric (SDG&E) is seeking tax credits under the Inflation Reduction Act (IRA) for its upcoming energy storage projects, which it said would enable it to reduce electricity rates for its customers.
South Africa needs to prioritise grid-located battery storage if it is to overcome the ongoing ‘load-shedding’ power outage crisis plaguing the country.
