Lithium-ion OEM LG Energy Solution will slow its expansion to focus on increasing utilisation at existing production lines, while also starting battery production in the US for energy storage next year, it revealed in its quarterly results.
The US Treasury and Internal Revenue Service (IRS) have finalised the rules and process for the 45X advanced manufacturing tax credit, which effectively provides a subsidy to domestic clean energy technology manufacturing, including batteries.
Transferability and the Inflation Reduction Act (IRA) have opened up tax equity financing to the wider corporate world, but significant risks remain with so many new entrants, tax credits specialist Foss & Company told Energy-Storage.news.
IPP Genera PR has chosen Tesla to provide the BESS technology for a 430MW/1,720MWh pipeline of projects in Puerto Rico, set to enter commercial operations at the end of 2025.
Developer and IPP Elevate Renewables will deploy a grid-forming BESS at a fossil fuel peaker plant in Connecticut, US, with US$27.5 million from the Department of Energy (DOE).
Gore Street Energy Storage Fund will provide a Goldman Sachs subsidiary with power from its Big Rock BESS in California via a 12-year, fixed price Resource Adequacy (RA) contract.
US-based utility Chugach Electric Association has successfully commissioned a new 40MW/80MWh 2-hour duration battery energy storage system (BESS) in Anchorage, Alaska.
On Friday (4 October), the US Department of Energy (DOE) announced Australia as an international collaborator on its Long Duration Storage Shot initiative.
