The Inflation Reduction Act could “suck the oxygen out” of the Latin American (LatAm) energy storage market, the CEO of pan-American energy storage firm On.Energy said.
Firm Frequency Response (FFR) auction prices in the UK have hit their lowest level since 2019 as market saturation begins to take effect, market analytics platform Modo Energy said.
Clean energy trade bodies ACP, ACORE and SEIA have denounced an attempt by Republicans to roll back the Act, which has spurred unprecedented investment in the US market.
Quinbrook Infrastructure Partners has started construction on Cleve Hill Solar Park, the largest solar and energy storage project in the UK, it claimed.
Gravitricity has partnered with firms in the US and Germany to deploy its gravity energy storage solution while Energy Vault has provided an update on its China project.
Enel Green Power will start building 1.6GW of battery storage projects in Italy this quarter, with the country’s utility-scale market expected to soar in the next three years.
The UK’s battery energy storage market will grow to 24GW by the end of the decade and account for almost 9% of all global capacity installations, energy research firm Rystad Energy said.
There has been US$150 billion of announced investments into the US’ upstream and downstream clean energy industry since the Act was passed, according to American Clean Power (ACP).
