Based on the value it provides to grids as shares of renewable energy grow, energy storage is a “very exciting market,” the VP of Goldman Sachs Renewable Power has said.
Almost 70% of home solar PV in Germany comes with battery energy storage attached and the country’s residential storage market represented around 2.3GWh of installed capacity by the end of 2020.
An order worth US$14 billion placed by carmaker Volkswagen with lithium-ion battery manufacturer Northvolt will have a “significant” impact on the stationary energy storage market, a spokesman for Northvolt has said.
Stem Inc has revealed its financial results for 2020 ahead of listing on the New York Stock Exchange, admitting that despite expecting a fourfold increase in revenues this year, the company is unlikely to achieve profitability until at least the end of next year.
Large-scale Vanadium redox flow battery (VRFB) technology looks set to be deployed at a 100MW solar energy power plant in China, two years after a smaller-scale demonstration project was commissioned in the region.
Two standalone battery energy storage systems (BESS) totalling 200MW of output will be deployed in Texas’ ERCOT market by the energy division at Wärtsilä Corporation.
Europe is on course to become the world’s second-largest lithium-ion battery cell producing region by 2025, although some key challenges need to be addressed, a European Commission vice-president has said.
LG Energy Solution, formerly known as LG Chem, has announced plans to invest in significantly increased production capacity within the US for batteries to be used in electric vehicles (EVs) and energy storage systems (ESS).
A new market mechanism for longer-duration storage should be created according to the UK’s Association for Renewable Energy and Clean Technology (REA).
Pacific Gas & Electric (PG&E), one of California’s three main investor-owned utilities, has said that 1,400MW of battery storage is to be deployed in its service area by the end of 2023 will keep the company on-track to meet statewide renewable energy goals “while ensuring grid reliability”.
