article thumbnail

Study: California needs up to 55 GW of long duration energy storage by 2045; 150X the storage deployed since 2010

Green Car Congress

By 2045, California will require the deployment of up to a staggering 55 gigawatts (GW) of long duration energy storage (LDES) to support its 100% clean electricity goals, according to a new modeling study released by the California Energy Storage Alliance (CESA). —Alex Morris, Executive Director of CESA.

article thumbnail

Mercom: Corporate funding for energy storage companies hit $26.4B in 2022; up 55% y-o-y

Green Car Congress

Mercom Capital Group, a global clean energy research and communications firm, released its report on funding and mergers and acquisitions (M&A) activity in 2022 for the energy storage, smart grid, and energy efficiency sectors. Corporate funding for energy storage, smart grid, and energy efficiency companies.

article thumbnail

BNEF: Li-ion battery pack prices rise for first time since 2010 to an average of $151/kWh

Green Car Congress

Rising raw material and battery component prices and soaring inflation have led to the first increase in lithium-ion battery pack prices since BloombergNEF (BNEF) began tracking the market in 2010. —Evelina Stoikou, an energy storage associate at BNEF and lead author. —Yayoi Sekine, head of energy storage at BNEF.

Li-ion 414
article thumbnail

SwRI opens Energy Storage Technology Center

Green Car Congress

Southwest Research Institute has opened a new Energy Storage Technology Center , bringing its diverse scientific research, development and evaluation of energy storage systems under one roof. We now have 10 times the laboratory space devoted to energy storage research and testing.

article thumbnail

Energy storage: the key to a decarbonised future

Setec Powerr

We are transitioning from fossil fuels to renewable energy sources such as wind and solar, and the use of energy storage is becoming more widespread. And with the popularity of electric vehicles, the grid is under more and more pressure, so the demand for energy storage is growing. Battery storage.

article thumbnail

BNEF ups forecast for global investment in stationary energy storage, sees majority of capacity likely to be grid-scale

Green Car Congress

Energy storage installations around the world will multiply exponentially, from a modest 9GW/17GWh deployed as of 2018 to 1,095GW/2,850GWh by 2040, according to the latest forecast from research company BloombergNEF (BNEF). Global cumulative energy storage installations. Source: BloombergNEF.

article thumbnail

Pike Research forecasts worldwide grid energy storage spending to reach $22B by 2021, down from 2010 forecast of $35B

Green Car Congress

In its new report Energy Storage on the Grid (ESG), Pike Research forecasts that global spending in the ESG market will reach a little over $22 billion over the next 10 years. Energy storage on the grid is reaching a turning point. Installed revenue by ESG technology, worldwide. Click to enlarge. Earlier post.).