Some long-duration energy storage (LDES) technologies are already cost-competitive with lithium-ion (Li-ion) but will struggle to match the incumbent’s cost reduction potential.
The first 4-hour duration battery storage project to be built in Ireland exemplifies both the challenges and opportunities of the country’s growing and evolving market.
Equis Australia and the State Electricity Commission have secured AU$400 million in financing for their Melbourne Renewable Energy Hub (MREH) battery storage project.
The UK battery storage market is suffering a “weak revenue environment”, with assets not able to participate in balancing the GB grid or replacing gas-fired generation to their fullest capability, according to Gresham House Energy Storage Fund.