Stem Inc claimed to be on track to achieve its 2021 full year revenue guidance of US$147 million, after reporting a year-over-year increase in revenues of 245% for the first quarter ending 31 March.

Vertically-integrated solar PV company Canadian Solar won nearly 1GWh of battery storage contracts in 2020 and CEO Shawn Qu has said it expects to “capture around 10% of the battery storage market in the US alone” during this year.

Energy storage systems were historically used for grid balancing purposes within Europe, limiting their use to such applications or to be considered as “auxiliaries” to renewable generation assets. However, as market prices evolve and new revenue streams emerge, stakeholders must discover the diverse applications energy storage can tap into, writes Naim El Chami.

Adding well-optimised energy storage to solar PV projects in the US state of Massachusetts can increase project revenues by up to 50%, Stem Inc has claimed, as the energy storage provider announced the completion of a front-of-meter solar project with 8MWh of storage.

Energy solutions company Alfen has seen its quarterly revenue climb across all three of its business lines, with its energy storage arm seeing revenues increase by 144% against the first quarter of 2019.

A survey of COVID-19 impacts on China Energy Storage Alliance (CNESA) members has underscored their faith in recovery, despite the worries over income and liquidity reported by nearly 80% of respondents.

With many climate protection advocates as well as the industry itself calling on Europe’s lawmakers to recognise the importance of energy storage, a “significant slowdown” in 2019 is expected to be countered with a more positive outlook going forwards.

Chinese solar inverter manufacturer Sungrow not only continues to lead the global market for inverter shipments, the company’s energy storage business enjoyed huge growth in revenue during 2018.

A local authority in England has unveiled two landmark solar-plus-storage projects on existing landfill sites which aim to be the first of their kind in the UK.

Leclanché has hailed recent project wins and a potential 450MW pipeline in reporting an improvement on its finances, which the company’s CFO has called “the first stage of our journey towards EBITDA breakeven”.