Some of the current market prices for lithium-ion batteries are below cost and will not last forever but Europe still needs to be more cost-competitive, the CEO of one of Europe’s first large-scale manufacturing facilities told Energy-Storage.news.

National Battery Strategy aims to make Australia a “globally competitive producer” of batteries and battery materials by 2035.

The new tariffs on batteries from China will increase costs for US BESS integrators by 11-16%, consultancy Clean Energy Associates said, adding that new guidance around the domestic content ITC adder will make it easier to access.

We hear from developers, IPPs and upstream battery sources about the US’ decision to massively hike tariffs on batteries and battery components from China.

Battery storage project development costs will continue to fall in 2024 as lithium costs decline “significantly,” according to BMI Research.

The Biden Administration will more than triple the tariffs paid on batteries and battery parts imported from China, from 7.5% today to 25%, in a huge move for the industry announced today.

Commissioning has been completed on the first commercial-scale project using Energy Vault’s gravity energy storage technology, while the firm has also secured a 400MWh BESS order for a project in Australia. However, it expects revenues this year to be 70-85% lower than 2023.

US-headquartered battery storage system integrator Powin Energy has signed a 12GWh cell supply agreement with Chinese battery maker REPT Battero.

This Friday Briefing looks at the battery manufacturing race that Europe and the US are set to get into, with both currently trailing far behind leader China.

China-based companies Sungrow and Eve Energy are seeing substantial growth in their energy storage product shipments.