The US National Renewable Energy Laboratory (NREL) has updated its long-term battery energy storage system (BESS) costs through to 2050, with costs potentially halving over this decade.

Canadian Solar has been on a “transformational journey to accelerate demand” for its battery energy storage services, CEO Dr Shawn Qu said while discussing what has been a quarter beset with difficulties for the company’s solar manufacturing business.

While energy storage is still a small part of their respective businesses overall, recent quarterly financial reports from US-based geothermal company Ormat and standby generator maker Generac emphasised expectations of market growth going forwards.