The Energy Storage Report 2024
Now available to download, covering deployments, technology, policy and finance in the energy storage market
Financial services giant Morgan Stanley has anticipated that the US energy storage market will grow faster than current consensus expectations, while Deloitte has earmarked the technology for exponential growth – although not perhaps this year.
Listed funds in the UK which own a significant portion of the country’s utility-scale solar PV assets are not currently convinced by battery storage’s feasibility, but remain primed to deploy the technology at scale when the time is right.
Microgrids—distributed systems of localised generation, distribution network and load—are being increasingly deployed particularly in rural areas of emerging and under-developed countries to achieve energy access. However, a “fragmented and unorganised” sector still faces significant challenges, writes Harsh Thacker.
A corporate venture fund set up by oil and gas company Statoil has invested in North American energy storage developer Convergent Energy + Power.
The participation of venture capital (VC) investors seems to have cooled, while project funding has conversely seen a sharp rise, in the latest quarterly report into funding and mergers and acquisitions from Mercom Capital.
Grid-scale energy storage developer Eos Energy Storage has raised proceeds of US$23 million through the initial closing of a private placement transaction and expects to use the money to increase deployment of its battery storage product.
Commercially viable energy storage has the potential to change the game by solving the energy trilemma. Arshad Saleem, from KIC InnoEnergy, which invests in and supports European sustainable energy, says marrying start-up innovation and big business experience could accelerate the journey to viability.
Energy storage system integrator Advanced Microgrid Solutions (AMS) has secured US$200 million of project finance from Macquarie.