The energy storage market is poised for strong growth over the next decade and opportunities are likely to emerge for alternatives to lithium-ion that offer longer durations of storage, but three key challenges remain for those technologies.
Greek industrial group Mytilineos has acquired a portfolio of solar and battery storage projects in a €56 million (US$67.8 million) transaction it says “heralds the transition to a new era” for the company.
US utility Duke Energy should refile its 2020 integrated resource plan (IRP) to effectively allow for the diversity benefits of solar and storage to be captured, it has been argued by energy consulting firm E3.
Colocating battery energy storage systems alongside renewables projects will be ‘critical’ to energy networks in the future, and could help level up debt financing.
US utility-scale battery energy storage project developer Key Capture Energy has secured US$93.3 million debt financing for a portfolio of six projects in Texas.
A debt financing deal closed by independent power producer (IPP) sPower for a 100MW / 400MWh battery storage project in California demonstrates that significant project finance investment can be achieved for large-scale battery facilities.
It has yet to build its first project but Jupiter Power, a developer, owner and operator of utility-scale energy storage has claimed it will deploy 652MWh of battery storage during 2021, kicking off a 10GW development pipeline.
A US$70 million funding round has been successfully closed by Highview Power, a UK-headquartered company which has developed a liquid air energy storage (LAES) system called the ‘CRYOBattery’.
When turbines at a natural gas power plant in California go offline, battery energy storage will be used as a ‘much cleaner alternative’ to diesel or other fossil fuels in getting them up and running again.
Energy storage system integrator Powin Energy has gained equity investment which the company claimed will allow it to significantly improve its integrated software and hardware platform.
