The Senate of New Mexico has passed a bill, which will require investor-owned utilities to have 2GW/7GWh of energy storage online by 2034, the second such move by a US state this week.

The collapse of Silicon Valley Bank has raised questions around the availability of capital for the clean energy sector, having been a major actor in the space to-date including with Sunrun, Leap, AES, Cypress Creek and other developers.

Energy storage funds managed by UK-based Gore Street Capital and Gresham House increased their net asset value (NAV) per share in 2022, but by very different rates.

Construction has started on two battery energy storage system (BESS) projects in Idaho which will be delivered by Powin Energy.

The faulty activation of sprinkler system forced the decommissioning of the LG batteries which were eventually stolen from Terra-Gen’s Valley Center BESS in California, the company told Energy-Storage.news.

rPlus Hydro has submitted a Final License Application for a pumped hydro energy storage (PHES) plant in Nevada, US, its second Application in 2023.

Energy Vault has confirmed its increased guidance for 2022, posting US$146 million in revenue of which two-thirds came in Q4.

The battery storage sector is about to enter its first ever phase of large-scale augmentations of systems as they reach 3-5 year degradation points and there are questions over how this will pan out, Burns & McDonnell told Energy-Storage.news.

ESS Inc ended 2022 with nearly 800MWh of annual production capacity for its iron flow battery, although had a relatively poor last financial quarter with just US$15,000 in revenue.

Developer Available Power and Linxon, a joint venture between engineering firm SNC-Lavalin and Hitachi Energy, are targeting 1GW of battery storage projects in the ERCOT, Texas market.