Energy Storage Sector Upbeat for 2023 Despite Cost, Supply Chain Challenges
India’s renewable energy growth plans are closely tied to energy storage to mitigate the intermittency of renewable sources as the country strives to meet the rising round-the-clock (RTC) clean energy ...
Energy Storage Firms Tap $26.4 Billion in Corporate Funding in 2022, up 55% YoY
Global corporate funding for energy storage, smart grid, and energy efficiency companies increased 63% in 2022 with $31.7 billion compared to $19.5 billion in 2021, according to Mercom's Annual and ...
Study Says EV Batteries Can Meet Short-Term Grid Storage Demand by 2030
Electric car batteries could boost storage by injecting electricity into the grid during times of scarcity or store during periods of excess and meet short-term storage demand as early as ...
Karnataka Tariff Hike Proposal to Deter Consumers from Availing Open Access
Power distribution companies (DISCOMs) of Karnataka have proposed revised tariffs for low-tension (LT) and high-tension (HT) consumers, which include grid support charges for captive open access power consumers. Apart from ...
Greenko to Build a ₹100 Billion Pumped Hydro Storage Project in Madhya Pradesh
The Greenko Group has said it will invest ₹100 billion (~$1.2 billion) in setting up a pumped storage project in the Neemuch district of Madhya Pradesh. The daily storage capacity ...
Regulator Approves Solar Developer’s Plea to Amend Effective PPA Date
Maharashtra Electricity Regulatory Commission (MERC) has approved the change in the effective power purchase agreement (PPA) date between ACME Sikar Solar (ASSPL) and the power procurer Maharashtra State Electricity Distribution ...
Top Developments That Shaped the Electric Vehicle Industry in 2022
The rapid adoption of electric vehicles (EVs) and their increasing popularity indicate they are no longer a short-term trend but a viable alternative to internal combustion automobiles. EV sales stood ...
Australia to Provide $118 Million for Battery Projects Across the Country
The Australian Renewable Energy Agency (ARENA) announced A$176 million (~$118 million) in conditional funding to support eight grid-scale battery projects across the country. With a total project value of A$2.7 ...
ReNew to Supply 150 MW Solar Power to Microsoft India
India-based independent power producer ReNew Power has announced it has signed an agreement with Microsoft India to supply 150 MW of solar power from its recently commissioned project near Bikaner ...
Acciona Buys Seven Battery Energy Storage Projects with 1 GW Pipeline in Texas
Acciona Energía has acquired the 190 MW/380 MWh battery energy storage system (BESS) facility in Cunningham, Texas, U.S., from Qcells, a subsidiary of the South Korean industrial group Hanwha Corporation ...
US Battery Utility-Scale Storage Capacity to Reach 30 GW by 2025
Power developers and project owners would add utility-scale battery storage capacity of up to 30 GW in the United States over the next three years, the U.S. Energy Information Administration ...
Battery Storage System Costs High, But ROI Remains Attractive: Mercom Webinar
The steep upfront investment required for lithium-ion battery storage systems is the major impediment in their large-scale deployment with solar projects even though the return on investment (ROI) is attractive, ...
SunPower Swings To $139 Million Profit in Q3 Owing to Record Customer Additions
Distributed generation storage and energy services provider SunPower Corporation posted a net income of $139 million for the third quarter (Q3) of 2022, compared with a loss of $84.4 million ...
Webinar to Shed Light on How Battery Storage Enhance Solar Systems’ Performance
Battery energy storage technologies globally are transforming how companies utilize, control, and dispatch electricity and facilitating a smoother transition to clean energy. The Indian market is also realizing how battery ...
solarZero Trades Energy Grid Stability Services from its VPP in New Zealand’s Exchange
New Zealand's solar and battery storage solutions provider solarZero said it had traded energy grid stability services from its virtual power plant (VPP) in the Electricity Reserves Market. In what ...
Iron Flow Battery Maker ESS Tech Cuts Loss by 38% YoY
U.S.-based manufacturer of long-duration iron-flow batteries ESS Tech recorded a loss of $31.6 million in Q3 2022, a 38% year-over-year (YoY) improvement compared to a loss of $51.33 million in ...
Enphase Energy’s Revenue Jumps 81% to $635 Million in Q3 2022 on Strong Demand
Microinverter-based solar-plus-storage systems company Enphase Energy recorded revenue of $634.7 million in the third quarter (Q3) of 2022, a year-over-year (YoY) increase of 81% from $351.5 million. The numbers marked ...
Tesla Records $21.5 Billion in Revenue and 2.1 GWh Energy Storage Deployments in Q3 2022
Tesla recorded total revenues of $21.5 billion in the third quarter (Q3) of 2022, a 57% year-over-year increase compared to $13.7 billion in Q3 2021 and a quarter-over-quarter (QoQ) leap ...
Corporate Funding for Energy Storage Firms Up 69% YoY to $22 Billion in 9M 2022
Global corporate funding for energy storage, smart grid, and energy efficiency companies in the first nine months (9M) of 2022 increased to $25 billion compared to $15.1 billion raised in ...
Global Energy Storage Market to Grow 15-fold from 27 GW to 411 GW by 2030: BNEF
Energy storage installations worldwide are projected to reach a cumulative of 411 GW by the end of the decade, according to BloombergNEF (BNEF). In its 2H 2022 Energy Storage Market ...
Energy Storage Firm ONE to Invest $1.6 Billion for a EV Battery Gigafactory in Michigan
Our Next Energy (ONE), a Michigan-based energy storage technology company, announced a $1.6 billion investment in a new battery cell manufacturing plant called ONE Circle in Van Buren Township, Michigan ...
Umicore and Volkswagen’s PowerCo in €3 Billion Deal for Battery Materials Production
Umicore, a Belgium-based circular materials technology company, and Volkswagen Group’s battery unit PowerCo have announced a joint venture with a plan to invest about €3 billion ($2.9 billion) to establish ...
Flux Power’s Revenue Up by 61% YoY to $42.3 Million in FY 2022 as Sales Volumes Surge
Flux Power Holdings, a U.S.-based lithium-ion storage solutions provider, recorded a 61% year-over-year (YoY) growth in revenue on the back of shipments of $42.3 million for the fiscal year (FY) ...
Domestic Battery Manufacturing Crucial to Achieving India’s Non-Fossil Fuel Goals
Developing a localized advanced cell supply-chain ecosystem will help India create a competitive advantage in mobility, grid energy storage, and consumer electronics, according to a report. NITI Aayog and Rocky ...
West Bengal Issues Open Access Regulations Including Green Energy
Consumers who have contracted demand or sanctioned load of 100 kW will be eligible to procure green energy through open access in West Bengal, according to the Open Access Regulations, ...
