Red tape, costs and logistical hurdles for large-scale battery storage and hybrid systems to participate in Australia’s National Electricity Market (NEM) will be cut under new Australian Energy Market Commission (AEMC) rules.
Wells Fargo has closed its first tax equity investment into a solar project paired with battery storage, a large-scale plant being built in New Mexico, US.
London Stock Exchange-listed energy storage investor Gresham House Energy Storage Fund has secured a £380 million (US$507 million) funding package from major UK retail bank NatWest.
Around 20 energy storage systems (ESSs) are to be deployed at roadside service stations in the UK where the grid supply isn’t enough for rapid charging infrastructure, the country’s government has said.
AGL, one of Australia’s biggest power generation and retail companies, has received government planning approval for a large-scale standalone battery storage system, a year on from its first announcement of the project.
London Stock Exchange-listed transatlantic flow battery manufacturer Invinity Energy Systems has conditionally raised £25 million (US$33.46 million) gross proceeds through a share placing.
Long-duration energy storage has a crucial role to play in decarbonising the global energy system sufficiently to avoid catastrophic climate change as long as its value can be unlocked.
Energy storage can change electricity’s status as the ultimate ‘just-in-time’ product, where supply and use have to be matched in real-time, but this won’t be possible without increasingly sophisticated software solutions.
