Some choice words from conversations with Scott McGregor, CEO at redT, Avalon Battery president and chief product officer Matt Harper and NEXTracker’s chief technology officer, Alex Au.
After approving investment for the acceleration of energy storage deployment in developing countries to the tune of US$1 billion a few months ago, the World Bank has now approved a US$300 million loan to do the same in China.
Strong deployment figures have been posted for the US’ energy storage market in both residential and non-residential segments in the past quarter, amid warnings that an escalating trade war with China could dampen some of that enthusiasm if tariffs are applied.
Subsidiaries of state-run energy conglomerate China Energy Engineering Corp have started constructing two major solar plants and one of the largest energy storage systems in China, according to filings on the Stock Exchange of Hong Kong (HKEX).
Grid-connected energy storage deployments have enjoyed a compound annual growth rate (CAGR) of 74% worldwide in the years 2013 to 2018, with a “boom” in deployment figures expected over the next five years, analysis firm Wood Mackenzie has said.
NEC has now executed five grid-scale battery energy storage projects in China and been awarded another, winning deals in spite of what a company representative described as “aggressive” price competition from domestic vendors.
Chinese solar inverter manufacturer Sungrow not only continues to lead the global market for inverter shipments, the company’s energy storage business enjoyed huge growth in revenue during 2018.
A 100MWh battery energy storage system has been integrated with 400MW of wind energy, 200MW of PV and 50MW of concentrated PV (CPV) in a huge demonstration project in China.
VRB Energy, a maker of flow batteries headquartered in Canada and owned by a metal resources and mining company, said the first phase of a 40MWh flow battery project in China has now been commissioned.
