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Total demand for energy storage between this year and 2030 could be close to 1TWh worldwide, according to analysis from Wood Mackenzie Power & Renewables.  The consultancy has issued the latest edition of its ‘Global energy storage outlook’ report today, predicting that the energy storage market this year will see 12GW / 28GWh of deployments,...
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Research firm IHS Markit has said that 2021 marks the start of a continued period of rapid growth for the global energy storage industry, forecasting more than 12GW installations in total this year. source: energy storage news
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In June and July, solar power accounted for one tenth of all electricity generated in the European Union. A record amount of almost 39 terawatt hours (billion kilowatt hours) was also generated. This is stated by climate think tank Ember in a new analysis. In 2018, considerably less solar electricity was generated during the two...
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Enabling power grids to function more flexibly and resiliently, the deployment of battery storage across the US has increased from about 100MW at the end of 2012 to 1,650MW by the end of 2020, accelerating from an inflection point year in 2015. A new report from the US Department of Energy’s Energy Information Administration (EIA)...
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A 150MW / 600MWh battery storage system would be a central component of a proposed “state-of-the-art clean energy underground highway,” capable of transmitting renewable energy into New York City from Upstate New York, Energy-Storage.news has heard.  New York’s electric transmission system needs to be able to support the ongoing and rapid growth of renewable energy. The state’s Climate...
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The US’ bipartisan infrastructure bill’s passing by the Senate has been applauded by a range of energy storage industry stakeholders for helping unlock the country’s clean energy potential. US$1.2 trillion in infrastructure spending on everything from road building to phasing out lead water pipes has been committed to through the legislation. It now needs to...
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US utility giant NextEra Energy added 1.84GW of renewables and energy storage projects to its backlog in Q2 2021. NextEra said its energy storage development programme includes 1,322MW of large-scale battery storage ranging in size from 25MW to 230MW in various US states with signed long-term contracts and a commercial operation date (COD) in 2022. The majority...
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Companies in the battery storage industry raised US$9.6 billion in corporate funding during H1 2021. This total was a huge leap on the pandemic-depressed first half of 2020, when the figure stood at just US$716 million. Research firm Mercom Capital Group has released its latest report into funding and merger and acquisition (M&A) activity in battery...
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source: Wood MacKenzie P&R/ESA – US energy storage monitor 2020
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Fossil fuel sources still account for the majority of global energy consumption, but renewables are not far off. The share of global electricity from renewables grew from 18% in 2009 to nearly 28% in 2020. Renewable energy sources follow learning curves or Wright’s Law—they become cheaper by a constant percentage for every doubling of installed capacity. Therefore, the increasing...
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