System integrator Stem Inc has seen huge falls in quarterly revenue and bookings as it shifts its business model away from BESS hardware solutions towards higher-margin software and service offerings.
IPP Ormat Technologies has put an 80MW/320MWh BESS in California into commercial operation, and will now leverage the investment tax credit (ITC) for which it is eligible.
A county authority in New Mexico, US, has approved an industrial revenue bond (IRB) to support the development of a BESS project from Blackstone-owned developer-operator Aypa Power.
Lithium-ion OEM LG Energy Solution will slow its expansion to focus on increasing utilisation at existing production lines, while also starting battery production in the US for energy storage next year, it revealed in its quarterly results.
The US Treasury and Internal Revenue Service (IRS) have finalised the rules and process for the 45X advanced manufacturing tax credit, which effectively provides a subsidy to domestic clean energy technology manufacturing, including batteries.
Transferability and the Inflation Reduction Act (IRA) have opened up tax equity financing to the wider corporate world, but significant risks remain with so many new entrants, tax credits specialist Foss & Company told Energy-Storage.news.
IPP Genera PR has chosen Tesla to provide the BESS technology for a 430MW/1,720MWh pipeline of projects in Puerto Rico, set to enter commercial operations at the end of 2025.
Developer and IPP Elevate Renewables will deploy a grid-forming BESS at a fossil fuel peaker plant in Connecticut, US, with US$27.5 million from the Department of Energy (DOE).
