As distributed energy resources such as residential solar rooftop increase in the next decade, aggregation into virtual power plants could save US utilities up to US$35 billion, according to The Brattle Group.
Wells Fargo, MUFG and Silicon Valley Bank have completed US$260 million of construction financing for Leeward Renewable Energy’s Chaparral Springs solar-plus-storage project in California.
Cost inflation and supply chain issues have forced California utility PG&E to increase the prices it will pay for 2GWh of battery storage projects, in a move which has been approved by regulators.
New developer GridStor has acquired a portfolio of in-development battery storage projects in LA, California, from Upstream Energy, totalling 500MW/2,000MWh.