Early days of the new regime have been applauded for their progressive nature, but lack of proper cost-benefit analysis for storage and concerns of trade tariffs remain
An order worth US$14 billion placed by carmaker Volkswagen with lithium-ion battery manufacturer Northvolt will have a “significant” impact on the stationary energy storage market, a spokesman for Northvolt has said.
The editorial team brings you the top takeaways from this year’s Summit, spanning everything from finance and the growing appetite for investment in the market today, to the technologies and policies that could help the UK and other nations to meet urgent deadlines for decarbonisation.
The battery storage market in the UK has become a viable investment opportunity in just the past few months, even without the backing of long-term contracts for grid services, according to an investment manager in the renewable energy sector.
The sudden and rapid use of Special Purpose Acquisition Companies (SPACs) to launch privately-held companies into publicly-listed entities is a minor phenomenon of our time and some players in clean energy industries including energy storage, have been quick to join the wave. It can work out really well, but it can also all end in tears: so choose wisely, says Charles Lesser, partner at Apricum – The Cleantech Advisory.
Financial backing to support early development phases in battery storage and renewable energy projects has been found by Momentum Energy Storage Partners, a project development company launched by DNV GL’s former energy storage lead for the North Americas region.
Despite the fall in unit prices for energy storage, a total of US$3.6 billion of investment was committed to energy storage projects in 2020, around the same amount as in 2019.
Around 2.1GWh of battery storage had been installed in Germany by the end of 2019, in households, at commercial and industrial (C&I) facilities and at large-scale in grid-connected applications.
The Australian government-backed Clean Energy Finance Corporation (CEFC) has committed AU$125 million (US$92.12 million) to help build grid infrastructure for a 2GW pumped hydro project with 175 hours of storage duration.
What does it take to successfully create a multi-gigawatt battery storage factory? Energy-Storage.news’ editor Andy Colthorpe moderates a discussion with some key players in Europe’s race to create a home-grown value chain.
