The Biden Administration will more than triple the tariffs paid on batteries and battery parts imported from China, from 7.5% today to 25%, in a huge move for the industry announced today.
Global battery energy storage system (BESS) integrator Fluence saw an 11% revenue drop in revenues in the three months ending 31 March, 2024, while it is also launching a higher energy density product and US module production this year.
Developers Agilitas Energy and On.Energy have raised a total US$125 million in debt financing towards solar, energy storage and hybrid solar-plus-storage projects in the US.
This Friday Briefing looks at the battery manufacturing race that Europe and the US are set to get into, with both currently trailing far behind leader China.
The energy storage arm of Canadian Solar said the technology ‘has more complexity than solar’ when it comes to nearshoring manufacturing away from China, and local cell manufacturing could be part of the long-term strategy to leverage domestic content incentives.
Rapid technology improvements and trade policy risk pose a dilemma for US battery storage procurement decision-makers, write George Touloupas and Jeff Zwijack of consultancy and market intelligence firm Clean Energy Associates (CEA).
The BESS industry is looking at ways to leverage the 45x tax credit for domestic cell manufacturing in the US, with the domestic content investment tax credit (ITC) bonus still unclear.
Hyperstrong, the largest BESS system integrator in China, is targeting the US energy storage market after becoming one of the largest providers globally.
The US government has announced US$4 billion in tax credits for over 100 projects under the Qualifying Advanced Energy Project Tax Credit (48C) scheme.
Andy Colthorpe takes soundings from key energy storage market players on their predictions for the industry in 2024, following a year of significant progress in 2023.
