While seeming “tech breakthroughs” garner a great deal of media attention, the three key factors in determining the likely impact of storage tech companies are innovative technology, scalability and a proven track record, a Bloomberg New Energy Finance analyst has said.

ABB has signed a memorandum of understanding (MoU) with Chennai-based engineering and research organisation, the Indian Institute of Technology Madras (IITM) to partner on building microgrids and develop R&D in the battery energy storage area.

Energy storage technologies are not the “silver bullet” they have sometimes been hyped as, but nonetheless have a crucial role to play in a decarbonised electricity system, according to the International Energy Agency (IEA).