Australia’s Clean Energy Council has signaled that Q1 2024 saw signs of recovery for the nation’s renewable energy generation sector but warned that investment levels must radically increase to achieve 2030 decarbonisation targets.

Revenues for zinc battery firm Eos Energy Enterprises rebounded in the first three months of 2023, having fallen sharply in Q4 2022.

Corporate funding of energy storage companies exceeded US$26 billion worldwide in 2022, a 55% jump from 2021’s total US$17 billion.

More corporate funding went into energy storage companies in the first nine months of 2022 than in the entirety of last year.

In the first half of this year, energy storage companies raised almost as much corporate funding as in the whole of 2021.

Battery storage companies raised US$17 billion in corporate funding in 2021 but have raised US$12.9 billion already this year. 

Canadian Solar has seen a “surge in demand for battery storage capacity,” CEO Dr Shawn Qu said, as the vertically-integrated solar PV company reported its latest quarterly financial results. 

The US energy storage industry collectively deployed 476MW / 764MWh in a single three-month period between July to September, with analysis firm Wood Mackenzie Power & Renewables describing the record-breaking performance as a “sign of things to come”.

Smart grid, energy storage and EV charger solutions provider Alfen has made significant quarterly increases in revenues in all three segments according to the Dutch company’s reporting of its latest financial results.

Canadian energy storage technology manufacturer Eguana Technologies has reported greatly increased revenues in its latest quarterly financial results, with the company making recent deals in territories including Japan and Germany.