Energy market mechanisms must evolve in order to support long-duration energy storage, with the existing frameworks having “significant problems” incentivising those technologies, a panel of experts has concluded.

The sudden and rapid use of Special Purpose Acquisition Companies (SPACs) to launch privately-held companies into publicly-listed entities is a minor phenomenon of our time and some players in clean energy industries including energy storage, have been quick to join the wave. It can work out really well, but it can also all end in tears: so choose wisely, says Charles Lesser, partner at Apricum – The Cleantech Advisory.

The energy storage market is poised for strong growth over the next decade and opportunities are likely to emerge for alternatives to lithium-ion that offer longer durations of storage, but three key challenges remain for those technologies.

There has been growing uptake in battery energy storage in Midwestern US states that have traditionally depended on burning coal for electricity, with some “very big projects planned,” an analyst has said.

Bigger projects, increased synergy with renewable energy generation, better evolved business models and a forward-thinking market design have contributed to the success of battery storage in the UK, with neighbouring Ireland also showing strong signs of rapid growth.

Analysis and research firm IHS Markit has predicted that over 10GW of new energy storage will be deployed during this year, with around half of those additions in the US market.

US utility Duke Energy should refile its 2020 integrated resource plan (IRP) to effectively allow for the diversity benefits of solar and storage to be captured, it has been argued by energy consulting firm E3.

Updated: Spain’s government has approved an energy storage strategy that it says will put the country “at the forefront” of what is being done in Europe and help it move towards its 2050 climate neutrality target.

Ireland’s first grid-scale battery system was commissioned at the beginning of 2020 but was followed just a few months later by another one 10 times larger. The opportunities for further development in the country appear huge, with a grid operator willing to recognise the role energy storage can play in balancing the network.

A debt financing deal closed by independent power producer (IPP) sPower for a 100MW / 400MWh battery storage project in California demonstrates that significant project finance investment can be achieved for large-scale battery facilities.