A growing industry trend towards larger battery cell sizes and higher energy density containers is contributing significantly to falling battery energy storage system (BESS) costs.
The California Public Utilities Commission (CPUC) has authorised a new centralised strategy for procuring long-lead-time resources, including long-duration energy storage (LDES).
Executives at US flow battery manufacturer ESS Inc. have said the company will be able to continue into 2025 and reach a gigawatt-hour of annual production capacity next year.
Peak Energy, a startup claiming to be the ‘first American venture to advance globally proven sodium-ion battery systems,’ has raised US$55 million in a Series A funding round.
Some long-duration energy storage (LDES) technologies are already cost-competitive with lithium-ion (Li-ion) but will struggle to match the incumbent’s cost reduction potential.
US zinc hybrid cathode battery storage manufacturer Eos Energy Enterprises has reaffirmed revenue guidance and expects to achieve a positive contribution margin this year.
Cumulative energy storage installations will go beyond the terawatt-hour mark globally before 2030 excluding pumped hydro, with lithium-ion batteries providing most of that capacity, according to new forecasts.
The US National Renewable Energy Laboratory (NREL) has updated its long-term battery energy storage system (BESS) costs through to 2050, with costs potentially halving over this decade.
