The versatility of battery storage to provide a broad range of services makes them “particularly valuable” to virtual power plants (VPPs), according to a senior advisor to the US Department of Energy (DOE).

UK-headquartered developer-investor Zenobē Energy and US recycling specialist Redwood Materials made the biggest VC-funded deals for energy storage companies in the first nine months of 2023.

Energy storage costs in the US grew 13% from Q1 2021 to Q1 2022, said the National Renewable Energy Laboratory (NREL) in a cost benchmarking analysis.

China continues to lead rankings for involvement in the global battery supply chain, but the chasing pack of other countries is in flux.

Companies in the battery storage industry raised US$9.6 billion in corporate funding during H1 2021, with European manufacturing startup Northvolt once again the biggest single recipient of venture capital (VC) investment.

The UK reached a gigawatt of battery storage deployments in the second quarter of 2020 and the industry has 14.9GW in its development pipeline including 1.8GW of ready-to-build projects and 6.9GW with planning approvals in place.

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.

There are seven utility-scale energy storage system integrator companies that currently lead a global market poised for significant expansion, with Fluence and Tesla currently competing for the top spot, according to a new industry ranking report from Guidehouse Insights.

The US national Energy Storage Association (ESA) has adopted a goal for the deployment of 100GW of new energy storage using a range of technologies by 2030, updating a previously set 35GW by 2025 target.