Tesla made ‘all-time high’ energy storage deployments in the first quarter of this year, ‘leading to record profitability’ for its energy business line, CEO Elon Musk has said this week.

Eos Energy Enterprises, ESS Inc and Energy Vault have increased their revenues and narrowed losses, according to financial results from the three ‘non-lithium’ energy storage companies.

US energy storage provider and renewable asset management services group Stem Inc. has confirmed guidance that it will be EBITDA positive throughout 2024.

Sunrun has published its 2023 full-year results, revealing the company deployed 1.01GW of new solar in the year.

Global battery energy storage system (BESS) integrator Fluence saw a record order intake of US$1.1 billion in the first quarter of its 2024 financial year, but slipped back into a net loss, possibly reflecting seasonality.

Wärtsilä’s energy storage division saw a 20% year-on-year increase in sales and a 31% increase in order intake from 2022 to 2023, with the company board in mid-consideration of the business unit’s future.

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.

Global demand for batteries for energy storage system (ESS) applications will grow 30% during this year, with the US leading the charge, LG Energy Solution has predicted.

Tesla’s energy storage and generation revenues have tripled since 2020, largely driven by deployments of Megapack battery storage systems.

The Gore Street Energy Storage Fund’s results for the first half of its financial year have demonstrated the benefits of its internationalisation strategy, though its net asset value (NAV) per share fell slightly.