Microvast is receiving more purchase orders from the US energy storage market than it can produce, the battery cell, pack and energy storage system manufacturer has said.
The US saw roughly triple the amount of grid-scale battery storage installed in the second quarter of this year as it did in the preceding quarter, in megawatt terms.
US developer Broad Reach Power has closed US$435 million in financing to start construction on 880MW of battery storage projects in the CAISO and ERCOT markets, for 2023/24 commissioning.
Independent power producer (IPP) Clearway Energy has closed US$421 million in financing for the 147MW/588MWh four-hour Rosamund Central Battery Energy Storage System (BESS) in Kern County, California.
Developer Jupiter Power has announced US$70.4 million in loan financing for two battery storage projects in ERCOT, Texas, arranged by First Citizens Bank.
New transferability and direct pay provisions for clean energy tax credits are a “game changer for renewable energy development” in the US, Shearman & Sterling partner Mona Dajani told Energy-Storage.news.
Cost disclosure requirements needed in order to qualify for IRA’s investment tax credit (ITC) domestic content adder could prove problematic for ESS providers, sources told Energy-Storage.news.
Barriers to financing for energy storage could hold back the growth of solar in the US, while an Investment Tax Credit (ITC) for standalone energy storage should be introduced, the audience heard as our publisher Solar Media hosted the Solar and Storage Finance USA event last week.
