Proposed new ancillary service market rules could adversely impact business case for battery storage, Cornwall Insight Australia says.

More than AU$1 billion (US$0.65 billion) of financial commitments to large-scale battery energy storage system (BESS) projects were made in Australia in the second quarter of this year.

South Korea last week launched a competitive solicitation for large-scale energy storage systems on Jeju Island, a southern province of the country.

Framework agreement signed between developer Vena Energy and suppliers to a cross-border clean energy ‘hybrid megaproject’ in Indonesia.

Energy storage’s role in enabling decarbonisation and economic growth was at the heart of discussions at Energy Storage Summit Asia 2023.

Australian high voltage grid operator Transgrid will host a competitive solicitation for large-scale battery storage resources in areas of New South Wales facing increasing electricity demand.

Scaling up net zero-enabling battery storage technologies will require financiers and investors to share risks with developers, such as those over supply chain.

Reducing exposure to merchant risk is key to making banks comfortable with lending money for hybrid renewables-plus-storage projects.

The Singapore Energy Market Authority (EMA) is figuring out how energy storage technologies can be widely deployed in the country, overcoming constraints such as limited availability of land.

Many ASEAN countries are advancing their adoption of renewable energy with the support of regulators, but the same can’t yet be said for energy storage technologies.